Economic and Financial Review - June 2021: GRENADA

Unemployment

Labour market conditions improved in the first quarter of 2021, when compared with the second quarter of 2020 (see figure 3). The unemployment rate declined to 19.5 per cent from 28.4 per cent in the second quarter of 2020. However, youth unemployment rose sharply to 42.9 per cent from 29.0 per cent, as the rate of absorption of new entrants fell by over 50 per cent, reflective of a pandemic induced cautious business environment. The gap between male and female unemployment narrowed over the referenced periods.

Figure 3 - Grenada Unemployment Indicators

Source: Central Statistical office, Grenada

Government Operations (Fiscal and Debt)

The fiscal performance of the central government improved during the first six months of 2021. The overall fiscal balance increased to $36.6m, up from the level obtained ($31.2m) at the end of June 2020 (see figure 4).

Figure 4 - Grenada Public Finance (June)

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