The Social Security Rate in Jamaica stands at 19.75 percent. source: Ministry of Labour and Social Security

Social Security Rate in Jamaica averaged 18.54 percent from 2004 until 2023, reaching an all time high of 19.75 percent in 2022 and a record low of 18.00 percent in 2005. This page provides - Jamaica Social Security Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Jamaica Social Security Rate - values, historical data and charts - was last updated on June of 2023.

Social Security Rate in Jamaica is expected to reach 19.75 percent by the end of 2023, according to Trading Economics global macro models and analysts expectations. In the long-term, the Jamaica Social Security Rate is projected to trend around 19.75 percent in 2024, according to our econometric models.

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Jamaica Social Security Rate

Related Last Previous Unit Reference
Social Security Rate 19.75 19.75 percent Dec 2023
Social Security Rate For Companies 12.50 12.50 percent Dec 2023
Social Security Rate For Employees 7.25 7.25 percent Dec 2023

Jamaica Social Security Rate
In Jamaica, the Social Security Rate is a tax related with labor income charged to both companies and employees. Revenues from the Social Security Rate are an important source of income for the government of Jamaica because they help to pay for many social programs including welfare, health care and many other benefits.
Actual Previous Highest Lowest Dates Unit Frequency
19.75 19.75 19.75 18.00 2004 - 2023 percent Yearly