LABOUR STATS ARE OUT AND IT’S NOT GOOD NEWS
2014 LABOR FORCE SURVEY- NOVEMBER
The Department of Statistics releases the results of its Labour Force and Household Income Survey which was conducted in November of last year. The survey provides information on the labour force as it existed during the reference period of October 27 – November 2, buy cialis see 2014.
The results of the survey which covered a six months period indicate that the labour force increased by 1.8% since the last survey conducted in May 2014. The labour force now totals 201,040 persons. There was an increase in both the number of employed and unemployed persons; however, find the growth in the number of unemployed persons exceeded that of the employed. This resulted in the unemployment rate increasing from14.3% in May to 15.7% in November. Both New Providence and Grand Bahama experienced increases in their unemployment rates. In New Providence the rate is now 16.0%; and in Grand Bahama, salve 18.6%.
In New Providence, while the number of persons in the labour force is almost equally distributed by sex; among the employed labour force men outnumber women, whereas the reverse occurred among the unemployed. In Grand Bahama men outnumber women in all categories; labour force, employed and unemployed labour force.
As of the November 2014 survey, the Island of Abaco, the third most populated island, has joined New Providence and Grand Bahama in every survey round. The results from this island indicate an estimated labour force of 9,800 persons of which 20% are unemployed.
The unemployment rate for youths (15-24 years), 31%, continues to be considerably higher than any other age group.
The number of discouraged workers in the country decreased from 4,880 in May to 4,560 in November 2014. In New Providence while there was an increase in the number of discouraged workers (22%), the reverse is noted in Grand Bahama where there was a decrease of 55%. In Abaco, the discouraged workers are estimated at 320 persons. Discouraged Workers, according to the standard definition of the International Labour Organization (ILO), adhered to by The Bahamas and most countries including those of the Caribbean, United States and Canada, are not considered unemployed as they do not meet the three criteria of unemployment namely i) seeking work, ii) willing to work, and iii) able to work
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This release, with accompanying tables, will be immediately available on the department’s website; statistics.bahamas.gov.bs. The final report with additional tables providing comprehensive information on the labour force should be available by late March.