Business
Barbados: Jobless numbers inching upwards – at 12%
Latest job numbers from Barbados indicate that unemployment jumped to nearly 12 percent in the first quarter of 2012, pushing past the 10 percent mark recorded in the previous quarter last year.
The research unit in the ministry’s economic affairs division said unemployment from January to March reached 11.8 percent.
The jobless rate reached 10.2 percent for the fourth quarter of last year, according to the Barbados Statistical Services.
“Statistics derived from the Continuous Household Labor Force Survey indicated that the rate of unemployment for the first quarter (January to March) of 2012 stood at a provisional 11.8 percent,” the statement said. “The unemployment rate among males stood at 10.5 percent and 13.1 percent among females.
According to the survey, of the 143,800 people in the labor force – 74,500 males and 69,200 females – 126,800 workers were employed, some 66,700 males and 60,100 females.
“The number of persons not actively looking for work, hence, excluded from the labor force was 70,300 persons – a total of 26,700 males and 43,600 females,” the government said.
“The Labor Force participation rate stood at 67.2 percent with participation among males at 73.6 percent and 61.4 percent among females.”
