Tag: Economics and Statistics Office

Tourism fuels 2019 economic boom

Tourism fuels 2019 economic boom

| 19/06/2020 | 15 Comments

(CNS): The Cayman Islands’ gross domestic product (GDP) is estimated to have grown by 3.4% in the first nine months of 2019, according to a report from the Economics and Statistics office released this week. Based on data collected between January and October, well before the COVID-19 pandemic shattered Cayman’s economic fortunes, the report showed […]

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Population had grown to nearly 70,000

Population had grown to nearly 70,000

| 19/06/2020 | 60 Comments

(CNS): Cayman’s unemployment rate increased in October last year, even when the population and workforce were both at an all-time high, according to the 2019 Fall Labour Force Survey (LFS). The report, undertaken before the COVID-19 pandemic changed everything, reveals that the population was just short of 70,000 and the workforce had reached almost 50,000. […]

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ESO begins annual business surveys

ESO begins annual business surveys

| 08/06/2020 | 6 Comments

(CNS): The Economics and Statistics Office has begun its annual surveys for the System of National Accounts (SNA) and the Balance of Payments (BOP) covering 2019. The data collected is intended to help shape government policy and set out the country’s economic position, but given the COVID-19 pandemic and the economic crash, what happened in […]

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Local economy could contract by over 12%

Local economy could contract by over 12%

| 27/05/2020 | 115 Comments

(CNS): The Cayman Islands’ economy could contract by as much as 12.2% this year, according to Finance and Economic Development Minister Roy McTaggart. The gloomy forecast for the country’s short-term economic fortunes was not unexpected, but with the reality of a 19% unemployment rate, government will now need to create public sector jobs and fund […]

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Employment survey begins in March

Employment survey begins in March

| 12/02/2020 | 13 Comments

(CNS): The Economics and Statistics Office (ESO) will begin its Spring Labour Force Survey (LFS) next month to collect data on people in the Cayman Islands who are employed, those looking for work, as well as those who are not in the workforce. Beginning on Sunday, 8 March, trained interviewers will visit 1,500 randomly selected […]

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Local jobless rate at 4.8%

Local jobless rate at 4.8%

| 14/11/2019 | 138 Comments

(CNS) UPDATED: According to the 2019 Spring Labour Force Survey, compiled by the Economics and Statistics Office, the Cayman Islands’ overall unemployment rate increased from 2.8% in the Autumn 2018 report to 3%. However, this is an improvement on the Spring of 2018. Reading from the latest survey, Finance Minister Roy McTaggart revealed that the […]

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Population edges towards 66,000

Population edges towards 66,000

| 27/09/2019 | 96 Comments

(CNS): The official population count at the end of 2018 was 65,813, an increase of 3.8%, according to official statistics published this week by the Economics and Statistics Office. The 2018 Compendium of Statistics paints a picture of Cayman by numbers that shows a growing economy and the largest work force in Cayman’s history. But […]

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High rents help fuel inflation trouble

High rents help fuel inflation trouble

| 10/09/2019 | 115 Comments

(CNS): The local inflation rate showed no sign of slowing down at the start of this year after a near 20% increase in residential rents in the twelve months between March last year and this led to an increase of 4.5% in the cost of living. Inflation has proved to be a thorn in the […]

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Wage survey reveals equality gaps

Wage survey reveals equality gaps

| 25/06/2019 | 37 Comments

(CNS): Almost 65% of the Cayman Islands’ workforce earned less than the average salary in 2017 and early 2018, according to a newly released pay survey by the Economics and Statistics Office. The first-ever occupational wage survey in the Cayman Islands has revealed a number of discrepancies in various different groups and some significant equality […]

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Local jobless rate falls to 4.6%

Local jobless rate falls to 4.6%

| 28/05/2019 | 35 Comments

(CNS): The latest Labour Force Survey indicates that the unemployment rate among Caymanian workers has fallen to a new low of 4.6%, or 996 people. According to the Economics and Statistics Office, the overall jobless rate was down to just 2.8% in the autumn of 2018, the lowest for the Cayman Islands since 2006, when […]

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ESO begins work to gather annual statistics

ESO begins work to gather annual statistics

| 03/04/2019 | 1 Comment

(CNS): The Economics and Statistics Office will begin its annual business surveys to measure the country’s economic performance in 2018 next week. The ESO needs data for the System of National Accounts (SNA), which estimates the total value of goods and services produced by the different industries in the Cayman Islands, and for the Balance […]

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