For the first time in Saint Lucia’s history, the national unemployment rate fell to 8.8% in the fourth quarter (October to December) of 2024.

Since the Hon. Philip J. Pierre-led Administration came to office in July 2021, hiring in the fourth quarter has increased year-on-year, pushing unemployment down to a record low of 8.8% for that period.

Fourth-quarter unemployment declined from 23.9% in 2020 to 19.6% in 2021. In 2022, the downward trend in fourth-quarter unemployment continued, declining to 14.3%. By the end of the fourth quarter of 2023, unemployment dropped to 13.6%.

Preliminary labour market data from the Central Statistical Office indicate that the national unemployment rate in 2024 was 10.8%—the lowest recorded annual unemployment average in more than two decades.

The Pierre Administration has had an immediate impact on unemployment since July 2021. Targeted economic policies implemented by the government have allowed the business sector to save millions of dollars in previously outstanding taxes. Furthermore, strategic incentives for local and foreign investors have encouraged numerous commercial and capital investment projects throughout Saint Lucia.

The fourth quarter is synonymous with increased commercial activity, consumer spending and seasonal hiring in the job market. However, this considerable drop in fourth-quarter unemployment of nearly 11% since 2021 is clear evidence of a strong economic performance, enabled by private sector confidence in the management of the local economy under the stewardship of Prime Minister Pierre.