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.”
The distributive sectors, wholesale and retail trade, accounted for the bulk of jobs in Barbados during the first quarter of 2012, with 19,900 jobs, followed by construction, mining and quarrying with 14,100 jobs, accommodation and food service with 12,000 jobs, while office jobs accounted for 8,700 people.
The economic affairs ministry said: “There were 8,500 persons employed in the Transport and Storage sector and 8,300 persons were employed in the Public Administration and Defence sector. The Manufacturing and Education sectors employed 8,200 persons and 6,400 persons respectively. The ‘Other Groups’ category generated employment for 6,400 persons while the Human Health and Social Work sector generated employment for 6,100 persons.
“The Finance and Insurance sector as well as the Activities of Households as Employers stood at 6,100 persons. The ‘Other Services’ sector employed 5,100 persons. Employment in the Professional, Scientific and Technical Services and the Agriculture, Forestry and Fishing sector was recorded at 3,800 persons.
The Electrical, Gas, Steam, Water and Air Conditioning Supply sector generated employment for 3,200 persons.” – (CMC)