There are more foreign workers employed in the Cayman Islands than at any other time in the territory’s history.
There were 27,263 work permits and government contracts for non-Caymanians at the end of 2018, according to data provided by the Immigration Department following an open records request.
Spanning the globe from Jamaica to Uzbekistan and representing every aspect of the Island’s economy, the number of expatriate workers now exceeds the previous high of 26,659, seen in November 2008.
That 2008 statistic was recorded at the height of a construction boom as the country was rebuilt in the aftermath of Hurricane Ivan.
The rise in permits was being driven by the success of the economy, particularly in the development and tourism sectors. Jobs in construction grew by nearly 20% between 2015 and 2018, while professional, scientific and technical jobs, which include most professionals in the financial industry, grew by around 25%, according to data from labour force surveys.
The overall unemployment rate has dipped below 4% and the unemployment rate among Caymanians is now less than 5% – the lowest it has been for over a decade.
Source: Caymanian Compass (May 2019)
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