Guyana’s Unemployment Rate Drops by Half Since 2020

• Since 2020, Guyana’s national unemployment rate has been cut in half, dropping from 12.8% down to 6.8% by 2024
• Over this same period, youth unemployment saw an even sharper decline, falling from 30.2% to 12.1%. This rapid progress was driven by the government's creation of over 104,000 new jobs during its first five years in office. However, because the economy is expanding so quickly, jobs are now being created faster than the local workforce can acquire the skills to fill them.
• Pointing to this labour shortage, Finance Minister Dr. Ashni Singh urged young people to take immediate action by starting training programs, applying for jobs, and embracing entrepreneurship.
• To support this push, the government recommitted to securing youth prosperity through three essential pillars: education and skills training, direct employment, and business opportunities.

(Source: Guyana Times)