The unemployment rate continues to drop steadily; and private sector jobs continue to increase.
“Confidence in our economy is drawing more investors, which means more jobs and opportunities for our people,” said Governor Eddie Baza Calvo. “We’re continuing to work on solutions, to look for ways to improve our island’s economy, and improve the quality of life for all of our people. These reports show a lot of good news, but they also show that there’s a lot more work to do and that’s what we’re focused on.”
The Guam Department of Labor recently completed two reports: Unemployment Situation for Guam report for March 2015, and Current Employment Report for June 2015.
Unemployment drops
The first unemployment report for 2015 shows a consistent decrease in unemployment. The March 2015 rate of 6.9 percent is nearly half of the 13.3 percent unemployment rate recorded in March 2011 when the Calvo Tenorio administration started its first term.
The March rate is a nearly 1-percentage point drop from the last report of December 2014 of 7.7 percent.
The unemployment report also shows that nearly 1,000 more people are focused on getting an education. This is one of the groups included in the “Not in the Labor Force” category, which showed an increase.
“The Department of Labor is working with the federal and local government, as well as private partners to help more people who want to work but can’t for one reason or another,” said Lt. Governor Ray Tenorio.
“Just recently, they created a new pilot program with the Guam Regional Transit Authority, adding the American Job Center as a drop off/pick up location on the public transportation route. The department also is working with other organizations and agencies on programs to help other job seekers.”
Employee numbers grow
The Department of Labor’s Current Employment Report for June 2015 also shows an increase in total jobs, primarily in the private sector. The latest employment numbers shows 47,610 private sector jobs, which is an increase from June 2011, which had 45,620 in the private sector.
There also is an increase in average hourly earnings from $12.95 a year ago to $13.56 an hour in June this year — a 4.7 percent increase.
