First quarter unemployment rate highest at 5.7 per cent
By Paneetha Ameresekere
Sri Lanka’s quarterly unemployment rate hit its highest figure of 5.7 per cent at the end of the first quarter (1Q) of this year (2020) since the Census and Statistics Department (CSD) started publishing such quarterly data beginning from the second quarter (2Q) of 2011, CSD statistics released yesterday (16) showed.
Further, the labour force participation rate (LFPR) hit an eight year low of 51% in the 1Q of 2020, where a figure lower than this was last seen in the fourth quarter (4Q) of 2012 with a figure of 48.1%.
In quantitative terms, the number of unemployed in the 1Q of 2020 comprised 483,172 and the number of employed, 8,020,446. The population which was 15 years and over and which are considered as employable comprised 16,689,726. The labour force in this group, i.e. both employed and those who are unemployed, but who are seeking work, comprised 8,503,617.