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Unemployment rate dropped to 1.7%

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by September 9, 2016 Top Stories

 By Francis Talasasa

A recent employment survey released by the ministry of finance recently, show that unemployment rate in Palau has greatly improved, dropping to 1.7% in 2015 from 4.2% in 2005.

Report also shows that unemployment records for males have dropped from 3.7% in 2005 to 1.8% in 2015 or in other words, number of unemployed males went from 232 in 2005 down to 105 in 2015.  It also shows number of unemployed women went from 4.9% in 2005 to 1.5% in 2015.[restrict]

Report shows that employment went up from 10,386 in 2005 to 11,043 in 2015.  Of this, private sector increased from 5,700 in 2005 to 6,142 in 2015.  Public sector increased from 3,269 in 2005  to 3,723.  Other entities including non-profit organizations, households and foreign embassies dropped from 1,417 in 2005 to 1,128 in 2015.

Average private sector wage went from $9813 in 2005 to $10,528 in 2015.  Average national government wage went from $17,179 in 2005 to $17,422 in 2015.  State governments went from $ 8,755 in 2005 to 9,099 in 2015.  Depository corporations went from $21,215 in 2005 to $22,422 in 2015.

On occupations, male workers still dominate trade and plant operator type occupations while female workers have increased in service and professional occupations.

Male workers represent higher percentage of the work force than female workers. [/restrict]

 

 

 

 

 

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