Business
Barbados: Unemployment rises to 12.5 pct
The latest data from the Barbados Statistical service indicate that the rate of unemployment in Barbados is 12.5 percent – there has been an increase in Barbadians filing for unemployment claims.
In the month of December alone, close to 500 new and returning applicants turned up at the Culloden Road offices of the National Insurance Scheme (NIS) to make claims, according to NIS spokesman John Springer.
Springer, the former secretary to the NIS Tribunal, did not give any idea of the total paid out in claims for the period, but said yesterday that unemployed people were taking full advantage of the recent extension, from six to ten months, of the window for filing for unemployment benefits.
He also said it had assisted “greatly” in the midst of tough economic times.
“If our unemployment benefits had stopped in six months, I’m not sure where our country would be at this point in time. So the extra four months that have been added to the unemployment has assisted Barbadians greatly, in that they can continue to spend and live a decent lifestyle,” he said.