Lanka News Line
Unemployment in Sri Lanka is rising

Unemployment in Sri Lanka is rising

The unemployment Rate in Sri Lanka increased to 4.60 percent in the second quarter of 2022 from 4.30 percent in the first quarter of 2022. The employment rate went down to 95.4 percent from 95.7 percent and the labor force participation rate also went down to 50.1 percent from 51.2 percent.
In November 1999 Unemployment in Sri Lanka was largely voluntary. The underlying problem was not a shortage of jobs but the artificial gap between good jobs and bad ones.

However, due to the economic crisis businesses are closing down and job losses are happening and there is a lack of new jobs being created.

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