HAGÅTÑA (The Guam Daily Post) — An unemployment report conducted in June showed the island’s rate of unemployment sits at 4%, which was a slight reduction in the past year.
On Friday last week, Adelup issued a news release announcing Guam’s unemployment rate “remained at a steady 4.0% in June 2023,” which was unchanged from the last report done in December 2022.
The unemployment rate, however, reduced 0.8% from the June 2022 figure of 4.8%, the release explained.
Additionally, the June 2023 current employment report shows the number of jobs dipped by 1,450 compared to the previous quarter but was still up by 2,420 year-over-year. It also showed private sector employment decreased by 830 in the last quarter but remained up by 1,990 over the year.
The report notes the decline in jobs can be attributed to several factors, including summer employment in educational institutions, which support them, but the number is expected to rebound in September.
In the release, acting Gov. Josh Tenorio recognized the numbers in light of the recovery from Typhoon Mawar and COVID-19 pandemic.
“The unemployment numbers show the resiliency in our economy despite the global pandemic and the devastation from Typhoon Mawar. As we continue to work to restore tourism to pre-pandemic levels, we will continue our efforts to expand and prepare our workforce to meet the needs of our island,” Tenorio said.
Guam Department of Labor Chief Economist Gary Hiles further explained the dip in jobs when the report was done three weeks after Typhoon Mawar is expected to be temporary.
Hiles added, an increase in employment should be expected with the construction activities at Marine Corps Base Camp Blaz and commercial and residential construction.
The Ricardo J. Bordallo Governor’s Complex in Adelup on Saturday, July 8, 2023. On Friday, Oct. 20, 2023, the Office of the Governor revealed unemployment on island is at 4%.
