The unemployment rate in Sri Lanka remained unchanged at 4.7% by the end of last year, according to the latest Sri Lanka Labour Force Survey Annual Bulletin 2023 released by the Department of Census and Statistics (DCS).
This stability comes amidst ongoing economic challenges faced by the nation.
In 2022, Sri Lanka recorded an annual unemployment rate of 4.7%, which is a drop from the 5.5% recorded for 2021.
However, according to Central Bank statistics, the highest unemployment rate in Sri Lanka was recorded in 2002 at 8.8%.
According to the DCS, persons available and/or looking for work, who did not work, had taken steps to find a job during the last four weeks, and are ready to accept a job given a work opportunity within the next two weeks are defined as unemployed.
The proportion of the unemployed population to the total labour force is considered the unemployment rate of the country.
As per the annual bulletin of 2023, a total of 398,415 remained unemployed in Sri Lanka despite the ongoing economic crisis. In 2023, the unemployment rate recorded for males and females was 3.6% and 7%, respectively.
Among all age groups, unemployment rates for females are higher than those for males. The youth (15-24 years) unemployment rates are the highest for both sexes.
Accordingly, from the age of 15 to 24, a total of 181,027 are unemployed in Sri Lanka. The unemployment rates among the age groups of 25-29, 30-39, and over 40 are 13%, 3.3%, and 1.2%, respectively.
As highlighted in the bulletin, when the level of education is considered, the highest unemployment rate of 8% is reported for the GCE A/L and above group, being 5.8% and 10.2% for males and females, respectively.
When provincial distribution is considered, the highest unemployment rate is reported from the Uva Province at 6.6%. Female unemployment rates are higher compared to those of males in all provinces. In the Southern and Eastern Provinces, very high female unemployment rates are observed comparatively.
When district-level distribution is considered, the highest unemployment rate is reported from the Badulla District (8%), while the lowest rate is reported from Mannar.