Barbados records significant drop in unemployment

(Barbados Nation) – The government of Barbados is reporting a significant drop in unemployment.

In leading off debate in the House of Assembly on the 2012-2013 Estimates of Revenue and Expenditure, Minister of Finance Chris Sinckler yesterday contended that there was “positive” news to report on the performance of the Barbados economy, while alluding to a 10.2 percent rate of unemployment in the country.

The figure posted by the Central Bank of Barbados for the last quarter of 2011 contrasts with the 12.5 percent rate that is still being reflected on the Barbados Statistical Services website for unemployment up to the end of September.

According to the central bank, female unemployment fell from a high of 14 percent in the third quarter to a low of 11.7 percent at the end of December, while the percentage of male unemployment dropped from 11.2 percent in the third quarter to 8.6 percent.

Encouraged by these latest statistics which indicate that unemployment has returned to the 10 percent level last seen in March 2011, Sinckler told Parliament that the current Democratic Labour Party administration deserved a second chance to run the country.