Puerto Rico Still Has Sky-High Unemployment

The U.S. unemployment rate for September hit a new low not seen since 1969. The new job numbers point to the healthy, rebounding economy. Unemployment nationwide is low, and wages are rising, which is keeping inflation at bay.

According to the preliminary state-based numbers for August 2018 from the Bureau of Labor Statistics, those assuring job numbers lose some of their shine at a more local level. Puerto Rico has unemployment just above 9 percent for August, over double that of the nation. The last time the country experienced a 9 percent unemployment rate was in April 2009 as the country was heading into the heat of the financial crisis. Hawaii has some of the lowest unemployment rates in the country, hovering right around 2 percent unemployment in the state.

Part of Puerto Rico’s high unemployment is attributable to the ongoing impact of Hurricane Maria, which decimated the island just over a year ago.