Tag: Economics and Statistics Office
Local unemployment up to 5% even as workforce grows
(CNS): Unemployment statistics appear to be going in the wrong direction, according to the latest numbers from the Economics and Statistics office. The Labour Force Survey (LFS) Fall 2023 Report shows that the overall unemployment rate was 3.3% in October last year, but the number of Caymanians out of work had increased to 5% (357 more people) […]
Civil service headcount increased 4.6% in Q3 of 2023
(CNS): Alongside the unprecedented growth in work permits over the last year, the civil service headcount grew by 203 (4.6%) between September 2022 and September 2023, when it stood at 4,629, according to the Economics and Statistics Office’s latest publication. The Third Quarter Economic Report 2023 said there were 36,079 work permits during this period, […]
Cayman continues to import a huge volume of vehicles
(CNS): According to the unaudited Third Quarter Economic Report 2023 covering government earnings and spending up to the end of September, a significant boost to the surplus at the time came from fees on imported motor vehicles. The earnings surpassed budget expectations by $7.8 million due to the volume of vehicles being imported. While the […]
Cayman’s GDP grew by 3.6% in the first half of 2023
(CNS): According to the Cayman Islands Semi-Annual Economic Report 2023 by the Economics and Statistics Office, the gross domestic product grew by an estimated 3.6% in the first half of last year. However, with inflation running at around 5.3% during the same six-month period, few people benefitted from the expanding economy. The weighted average lending […]
Inflation begins to slow but averaged 3.8% in 2023
(CNS): The cost of living rose by an average of 3.8% last year compared with 2022, the Economics and Statistics Office confirmed after releasing its Consumer Price Index Report for 2023 this week. While inflation slowed last year, particularly during the last quarter, the rise in the CPI followed the 9.5% average increase during the […]
Inflation slowing down but prices still climbing
(CNS): The price of food, rent, utilities and clothes all increased during the second quarter of this year. The local inflation rate is still rising, even though it has slowed down to 4.1% from its peak of over 12% in the summer of 2022. The Consumer Price Index (CPI) between March and June was 130.4, […]
145k tons of rubbish reflects problems of growth
(CNS): Last year, the Department of Environmental Health managed 145,590 tonnes of garbage compared to less than 39,000 a decade ago. This is just one of many figures revealed in the Cayman Islands Compendium of Statistics that reflect how the surge in population has had a major knock-on effect on numerous infrastructure and community issues […]
Labour Force Survey reveals leap in expat workers
(CNS): “Growth cannot come at the cost of peace of mind and quality of life,” Premier Wayne Panton said Thursday as the Economics and Statistics Office released its Spring 2023 Labour Force Survey. The results show a record-breaking leap in the workforce of almost 8% since the spring of 2022, fuelled by a growth in […]
ESO to help elderly couple with ‘daunting’ survey
(CNS): The Economics and Statistics Office has apologised to a couple in their late 70s, one of whom is suffering from cancer, about the pain and stress caused by a letter the ESO sent after they had declined to take part in the Household Budget Survey. The couple who were “daunted” by the order to […]
Local unemployment rate falls to record low
(CNS): The unemployment rate among Caymanians fell to a new low of 3.6% in October 2022, with just 796 local people declaring themselves jobless, according to the Economic and Statistics Office’s Fall Labour Force Survey. With another 9,000 people added to the workforce last year, the population is now over 81,500, an increase of more […]
ESO compendium paints last year in numbers
(CNS): The Cayman Islands Compendium of Statistics 2021, which has now been released by the Economics and Statistics Office, pulls together all of the information collected by the ESO over the course of last year. Many of the figures have already changed dramatically since the data was sourced, not least the overall population. When the census was […]
