Sri Lanka’s unemployment rises back to 5.7% in Q1

Sri Lanka’s unemployment rose to back 5.7 per cent in the first quarter of this year from  5.2 per cent in the fourth quarter of 2020 as the economy struggled to recover in the quarter and more people re-entered into the labour force.

In the third quarter of 2020, Sri Lanka’s unemployment rate rose to an 11 year high of 5.8 percent.

Sri Lanka has a high unemployment rate among youth and females. Nearly one-quarter of females in the labour force were unemployed compared to 22.2 per cent of males in the same age group as of the fourth quarter of 2020.

The Labour Force Participation Rate (LFPR) improved to 51 per cent in the quarter from 50.1 per cent in the fourth quarter of 2020. The LFPR remained volatile in the range of 50 and 51 per cent in 2020.