Results Labour Force Survey 2024

Introduction

The Labour Force Survey (LFS) was conducted in October and November 2024 to capture key labour statistics, including the unemployment rate and labour force participation. As this survey followed closely after the 2023 Census, a more condensed version of the LFS was conducted and focused on the most essential indicators. 

The unemployment rate, which is 7.8%, has decreased drastically from 13.1% that resulted from the LFS in 2022. 

The decrease in the unemployment rate comes amid the continued resurgence of the tourism sector on Curaçao. After a period of high unemployment rate caused first by many foreclosures and liquidations of companies, which was then followed by the COVID-19 pandemic, more people are now likely finding opportunities due to tourism driving growth in areas such as real estate, construction and hospitality as reported by De Centrale Bank van Curaçao and Sint Maarten (CBCS). 

However, further research is needed to identify the growth of the employed population in each sector. Tourism has grown a lot since then and has even surpassed pre-COVID numbers in certain aspects. Total tourist arrivals have increased by at least 20% year over year for the third consecutive year in 2024 (CTB). Figure 1 highlights the number of nights stayed and total arrivals by tourists from 2019 to 2024. This rebound not only highlights tourism’s pivotal role in the island’s recovery but also its capacity to drive employment growth as the sector expands.