Barbados’ unemployment numbers are on the way up, but just slightly.
Based on the numbers released last week by the Barbados Statistical Service (BSS) as part of its continuous household survey between April and June this year, the unemployment rate at the end of that second quarter stood at 11.4 per cent, a figure which represented an increase of just 1.3 percentage points from the rate of 10.1 per cent recorded during the second quarter of 2016.
In fact, 1 400 more jobs were lost at the end of June this year when compared to the corresponding period last year, but a whopping 4 900 less people are now in the country’s total labour force.
Based on the BSS’s most recent figures, the unemployment rate for males is 11.3 per cent, an increase of 1.9 percentage points from the figure of 9.4 per cent recorded during the same period last year.
For females, the unemployment rate increased by a meagre 0.6 percentage points from a figure of 10.9 per cent in the second quarter of 2016 to 11.5 per cent for the second quarter this year.
The number of unemployed people at the end of June total 16 600, 1 400 more than the figure of 15 200 thousand recorded during the corresponding period in 2016.
The total number of employed people in Barbados was estimated at 128 800, 6 300 less than the figure of 135 100 recorded during the corresponding period in 2016.
On the other hand, the total number of inactive people increased by 4 700 from 70 600 people during the same quarter in 2016, to the current total of 75 300.
As a result of these changes, the total labour force in Barbados is now estimated to be 145 400 people, 4 900 less than the corresponding 2016 figure of 150 300.
The labour force participation rate for April to June 2017 was estimated at 65.9 per cent, 1.9 percentage points less than the 67.8 per cent recorded for the same period in 2016.
The unemployment rate for the 2nd quarter of 2017 was two percentage points more than the figure of 9.4 per cent recorded for the first quarter of the year. The labour force participation rate was 0.4 percentage points more than the first quarter of 2017.
The rates in the second quarter from April to June do show a sharp increase to those from January to March. The unemployment rate was just 9.4 per cent in that first quarter.
The number of people employed was 131 000, compared to the 128 800 with jobs after June. The number of unemployed people after the first quarter was 13 700, compared to 16 600 at June 30. (BA)
