Economic Data for Puerto Rico

Gross Domestic Product

GDP (a measure of economic growth) has stagnated after 2010, hovering around $105 billion.

 

Jobs                                                                                                      

Private-sector employers have lost 30,000 jobs since 2010, the national low point for private-sector employment. From 2017 to 2018 the private sector lost 30,000 jobs. There were 640,000 total jobs in the private sector in 2018, less than before the recession by 110,000 jobs. Average hourly wages in the private sector declined from 2013-2018, falling from $13.50/hr to $12.75/hr.

 

Manufacturing employment has declined since the recession. There were 70,000 jobs in this sector in 2018, far below the 2008 peak of 111,000 jobs. Average hourly wages of manufacturing employees increased from 2001-2014 but have fallen since then, dropping from $14/hr to $12.50/hr by 2018.

 

 

There were 14,800 jobs in the Transportation and Warehousing sector in 2018, 2,000 less than before the recession, showing slight growth in this sector. Average hourly wages in this sector grew from 2004-2009 and have stagnated since then, going from $11.13/hr to $14/hr in 2017.

 

 

Unemployment

The unemployment rate in 2018 is 10%, down from the rate of 12% in 2017. This is far above the national rate of 3.9% unemployment.

 

 

Housing

The House Price Index, a measure of the cost of housing, increased from 2015 to 2018 rising from 168 in 2015 to 188 in January of 2018.