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Employment increases by 5.7% in April

Intelligent Economics > Analysis > Employment increases by 5.7% in April

The U.S. The Bureau of Labor Statistics released a report stating that unemployment in April 2022 has decreased when compared to March; it reached 77,561 a 2.6% decrease when compared to the previous month. Additionally, it had an even greater decrease when compared with the April 2021 number, which had a decrease of -16% change from 2021 to 2022. The total nonfarm payroll in Puerto Rico reached 914,900 workers in April 2022. Compared to March 2022, this number increased by 4,700 or 0.5%. The nonfarm payroll also had a great over-the-year difference of 49,400 or 5.7% change (total of 865,500 workers in April 2021). 

The leisure and hospitality industry reached the largest number of employees it has had in at least 30 years; with a total of 85,100 in April 2022. The industry had a 13.8% over-the-year growth, and a 0.7% increase from March to April. Indicating that the tourism sector is growing within the island. 

The industries with the largest over-the-year increases in employment when compared to the data from April 2021 were professional and business services (9.6%), trade and transportation (6%), and manufacturing (8.3%). 

The government sector had both an over-the-month increase in employment of 0.2% when compared to March 2022, but it had an over-the-year decrease of -0.3% when compared to April 2021. 

There has ultimately been a lot of growth in employment which has been aided by the normalization of the economy along with the disbursement of federal funds.  Additional federal funds should aid in supporting the increased level of employment the economy has experienced over the past months.

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