SAN JUAN, Puerto Rico – A researcher with New York’s Federal Reserve Bank says Puerto Rico’s labour market may not be as weak as previously believed.
Jason Bram says upcoming revisions from the Bureau of Labor Statistics will likely show that job loss was lower than currently estimated. He said in a blog published Friday that a current estimate of 44,000 total jobs lost from June 2012 to June 2013 could be revised to some 10,000 total jobs lost.
Bram said the education and health services sectors will likely see the biggest upward revisions, followed by professional and business services.
The U.S. territory of 3.7 million people has an unemployment rate of 15.4 per cent, the highest compared to any U.S. state.