Puerto Ricans are troubled by Congress’ plan to sort out their island’s debt
PRI - 06/15/2016
“Puerto Rico has lost half of its manufacturing jobs. Just gone” said Amílcar Barreto, a political scientist at Boston’s Northeastern University who researches nationalism and ethnic politics, largely focusing on Puerto Rico.
Puerto Rico has actually lost slightly more than half of its manufacturing base since 1996,nearly 100,000 jobs. The island has suffered a decade of economic stagnation since 2006, when the 10-year tax break phase-out ended, and the unemployment rate now sits at 12 percent. And Puerto Ricans — who are American citizens — are fleeing for the mainland.
“Last year, over 120,000 left the island. And this year it could be 200,000, or a quarter of a million,” says Barreto.