SL Economy shrinking but unemployment rate falling

Although economic growth is slowing down Sri Lanka’s unemployment rate has fallen down to  5.2 percent in the fourth quarter of 2020. Within the last 11 years unemployment has been at about 5.8 percent.

 

Approximately about 8 million of the population is employed according to the government statistician. Most of the employment gains are from the agricultural sector. Employment has fallen in the industrial sector  

 

Sri Lanka’s Purchasing Managers Index compiled by the central bank has shown that new hires had started to take place in 2021 after a second wave of Coronavirus from October dampened an early recovery after lockdowns ended.