Puerto Rico Workforce Investment System, Annual Report 2010-2011.

摘要

It is widely known that the United States (US) and the global economies have been facing enormous challenges. Puerto Rico (PR) has not been an exception in this regard. Over the past thirty three months, this Administration has been working to rescue PR from a fiscal crisis and deep turmoil that began in early 2006, when the local recession commenced. Given that economic troubles began before there were signs of difficulties in the US, it is important to put Puerto Rico's Recovery in perspective. Local economists have called 'Puerto Rico's Lost Decade' - a period of economic doldrums that began in 2001 and was exacerbated by a government-wide shut down, that led to the deep recession of 2006 with some important indicators such as; Average annual economic growth for the first decade of the 21st century dropped to below 0%. That means 10 years of zero growth; Fiscal reality finally known in 2009, showing an alarming and historic deficit of $3.3 billion dollars, which represented 44% of the total budget, and placing P.R. in the 51st position, behind all the States, in terms of fiscal deficit; Population decreased over the previous decade and Unemployment levels on the rise.