President Dr. Irfaan Ali, says official labour market data show Guyana’s unemployment rate has been cut by more than half since 2020, with tens of thousands of new jobs created across a widening range of industries.
In a Facebook Live broadcast speaking from Belize, the Head of State said he was responding to critics who, he argued, have mischaracterised the structure of employment and the drivers of job creation in Guyana.
“This morning I want to address an issue that some people like to parrot about… the structure of our employment, the growth of our employment and the reduction in unemployment,” Ali said, adding that he wanted to “examine the facts” on how the labour market is responding to economic growth and diversification.
Citing a recent labour force bulletin issued by the Guyana Bureau of Statistics, the President said unemployment declined from 12.8% in 2020 to 6.8% by the fourth quarter of 2024.
“If you look at the period 2020 to 2024, unemployment fell from 12.8% to 6.8% in the fourth quarter of 2024,” he said, contending the headline figure amounts to “more than 50%” reduction over the period.
Ali also pointed to improvements for women in the labour market, saying female unemployment declined from 14.4% to “less than 9%,” and claimed job creation is occurring beyond urban centres, with unemployment rates now more evenly distributed across regions.
The President said the number of employed persons rose by more than 104,000 between the first quarter of 2020 and the fourth quarter of 2024, moving from 264,000 to almost 370,000.
“Between that period alone, we have more than 104,000 persons… new persons employed,” Ali said. “Persons employed moved from 264,000 to almost 370,000 in the last quarter of 2024.”
He linked the trend to public and private sector activity aligned with an infrastructure-led development push, alongside policies intended to expand agriculture, tourism, manufacturing and agro-processing.
Ali argued that earnings have risen sharply across multiple sectors, insisting the strongest wage growth is being recorded in areas outside oil and gas.
“Let us look at the highest growth rate in earnings across our economy,” he said, listing increases including 84% in agriculture, forestry and fishing; 71% in construction; 69% in wholesale and retail; 88% in information and communication; “over 100%” in professional, scientific and technical services; and “over 114%” in arts, entertainment and recreation.
He maintained that wage gains have occurred without the scale of inflation experienced internationally, crediting government policies for helping to keep inflation low.
Ali also used the broadcast to argue that Guyana is increasingly facing labour shortages rather than widespread joblessness. He cited a labour assessment by the Centre for Local Business Development which, he said, found a shortage of 52,396 workers, and referenced International Organization for Migration estimates indicating the country may need about 160,000 workers overall, with at least 100,000 required to support the growth agenda.
He said the studies project expanding job opportunities in construction, hospitality and tourism, commerce and specialised services, agricultural food systems, health and social services, and emerging sectors such as green technology and climate resilience.
“This is not a story about oil and gas,” Ali said. “This is a story about a country on the rise with a diversified economic system that is building jobs, creating wealth, enhancing prosperity and delivering for the Guyanese people.”
