Puerto Rico saw employment drop 2.5 percent to 910,900 while the average weekly wage declined 0.6 percent to $501, according to the report from the U.S. Bureau of Labor Statistics that covered the period from September 2012 to September 2013.
The overall U.S. economy posted a 1.7 percent employment increase and 1.9 percent gain in the average weekly wage to $922.
Puerto Rico is struggling to pull out of an economic recession dating back to 2006 and is grappling with high unemployment 14.7 percent and public debt of $73 billion. The Government Development Bank’s Economic Activity Index dropped for 16th straight month in March. However, there are some signs, including private employment gains, pointing to a potential rebound as the administration of Gov. Alejandro García Padilla aims for 2 percent growth by 2018.
Puerto Rico’s capital city San Juan posted an employment loss of 2.9 percent and a 0.3 percent wage decline on a year-over-year basis.
BLS Chief Regional Economist Martin Kohli noted that in September 2013, the capital city’s employment level of 255,000 accounted for 28 percent of total employment on the island. San Juan is Puerto Rico’s lone large county (municipality), which are defined as those with employment of 75,000 or more.)
The average weekly wage in San Juan was $598 in the third quarter of 2013, 0.3 percent lower than one year prior.
All 77 of Puerto Rico’s other municipalities had wages below the United States’ average of $922. Juncos, at $871, had the highest average weekly wage, followed by Barceloneta ($615) and Guaynabo ($613). Both Juncos and Barceloneta are pharmaceutical manufacturing hubs.
None of the other municipalities had a weekly wage above $600.
Another 35 municipalities had average weekly wages below $400, with roughly half of these low-wage municipalities located in the western half of the island. Las Marías ($310) had the lowest average pay of an town in Puerto Rico.
In the neighboring U.S. Virgin Islands, average weekly wages declined 0.6 percent to $701, putting them below the U.S. average but well above Puerto Rico. The highest average weekly wage among USVI counties was St. Thomas at $718. St. Croix, which has been hard hit by the closure of the sprawling Hovensa oil refinery, saw the average weekly wage there drop to $698. Average weekly wages on St. John were $645.
Though employment on each island was below 25,000, more than half of the territory’s 37,900 jobs in September 2013 (-1.9 percent) were on St. Thomas, and an additional 14,600 were on St. Croix.
In the U.S., employment grew 1.7 percent over the year, as 286 of the 334 largest U.S. counties gained jobs. The 334 largest counties made up 71.4 percent of total U.S. employment.
By : KEVIN MEADThe overall U.S. economy posted a 1.7 percent employment increase and 1.9 percent gain in the average weekly wage to $922.
Puerto Rico is struggling to pull out of an economic recession dating back to 2006 and is grappling with high unemployment 14.7 percent and public debt of $73 billion. The Government Development Bank’s Economic Activity Index dropped for 16th straight month in March. However, there are some signs, including private employment gains, pointing to a potential rebound as the administration of Gov. Alejandro García Padilla aims for 2 percent growth by 2018.
Puerto Rico’s capital city San Juan posted an employment loss of 2.9 percent and a 0.3 percent wage decline on a year-over-year basis.
BLS Chief Regional Economist Martin Kohli noted that in September 2013, the capital city’s employment level of 255,000 accounted for 28 percent of total employment on the island. San Juan is Puerto Rico’s lone large county (municipality), which are defined as those with employment of 75,000 or more.)
The average weekly wage in San Juan was $598 in the third quarter of 2013, 0.3 percent lower than one year prior.
All 77 of Puerto Rico’s other municipalities had wages below the United States’ average of $922. Juncos, at $871, had the highest average weekly wage, followed by Barceloneta ($615) and Guaynabo ($613). Both Juncos and Barceloneta are pharmaceutical manufacturing hubs.
None of the other municipalities had a weekly wage above $600.
Another 35 municipalities had average weekly wages below $400, with roughly half of these low-wage municipalities located in the western half of the island. Las Marías ($310) had the lowest average pay of an town in Puerto Rico.
In the neighboring U.S. Virgin Islands, average weekly wages declined 0.6 percent to $701, putting them below the U.S. average but well above Puerto Rico. The highest average weekly wage among USVI counties was St. Thomas at $718. St. Croix, which has been hard hit by the closure of the sprawling Hovensa oil refinery, saw the average weekly wage there drop to $698. Average weekly wages on St. John were $645.
Though employment on each island was below 25,000, more than half of the territory’s 37,900 jobs in September 2013 (-1.9 percent) were on St. Thomas, and an additional 14,600 were on St. Croix.
In the U.S., employment grew 1.7 percent over the year, as 286 of the 334 largest U.S. counties gained jobs. The 334 largest counties made up 71.4 percent of total U.S. employment.
BLS: Employment, wages drop in PR
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