Sri Lanka unemployment down in third quarter 2018
Jan 07, 2019 12:11 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT- Unemployment in Sri Lanka eased to 4.1 percent in the third quarter of 2018 from 4.2 percent a year earlier, reaching the second lowest level in five years, a Census and Statistics Department report said.
The lowest unemployment level during the five year period was 4 percent in the fourth quarter of 2017.
The data based on a survey which has margin of error of 5 percent, indicating the overall trend was around the same as last year.
Unemployment moved down in the third quarter from 4.6 percent in the second quarter, following a seasonal trend.
Joblessness among women between the ages of 15 to 24 fell from 32.3 percent to 26.1 percent a year earlier, helping the overall decline in unemployment.
The labour force of the country fell 1.5 percent from a year earlier to 8 million people in the third quarter of 2018.
Female labour force participation was 34 percent, down from 36.6 percent a year earlier, but up from 32.5 percent in the second quarter.
There was a 2.8 percent fall in employment in the services sector from a year earlier to 3.7 million people, despite its contribution to gross domestic product (GDP) growing 3.3 percent in the quarter.
Employment in the services sector was 46 percent and had a 56.8 percent share of GDP during the quarter.
The number of jobs in the agriculture was up 2.7 percent to 2 million while its GDP growth was 3.3 percent as the sector recovered from a drought a year earlier.
Agriculture sector employment was 25.3 percent but was worth only 7.5 percent of GDP.
The labour force engaged in industry fell 2.8 percent to 2.3 million with its contribution to GDP growing 1.9 percent.
It employed 28.7 percent of labour and was worth 27.4 percent of GDP.
The labour force fell 3.9 percent on a quarterly basis, with a shift away from services towards agriculture and industry jobs.
The jobs in agriculture bounced back to 25.3 percent in the third quarter from an all-time low of 24.2 percent in the previous quarter. (Colombo/Jan07/2019)