NASSAU, The
Bahamas - The Department of Statistics
2014 Labour Force Survey has revealed that more than 8,000 jobs have been
created as a direct result of the proactive and innovative policies of the
Government.
This, the Minister of
Labour and National Insurance the Hon Shane Gibson confirmed in a Communication
to the House of Assembly on Wednesday, July 23. 2014.
The date, compiled by
the staff of the country’s premier authority on data contains “irrefutable
evidence” of the success of the policies of the administration led by Prime
Minister the Rt Hon Perry Christie, Mr. Gibson said.
The survey was
conducted during May 2014 and provides empirical data on the Bahamian Labour
Force that covers the period since the last survey, which was carried out in
November 2013.
“In just over two
years, the survey confirms that more than 8,000 jobs have been created as a
direct result of the proactive and innovative policies of the PLP Government,”
Mr. Gibson said.
The labour force
stands at 197,335 people, up from 188,310 in May of 2010 and supports the fact
that there in an increase in the number of employed persons and a decrease in
the unemployment rate, which stands at 14.3 percent; lower than it was in May
2012. In November 2013, the unemployment rate was 15.4 percent.
Of particular note, he
said, is the significant reduction in the number of discouraged workers,
especially on Grand Bahama, where this number has decreased by 60 percent.
“This new spirit of
enthusiasm in Grand Bahama is directly related to the focused leadership and
the on-going initiatives of the government including the opening of the
Memories Resort, the excellent working relationship with the Grand Bahama Port
Authority and the Hutchison Group and the ongoing consultations with our social
partners to improve the economy of The Bahamas,” Mr. Gibson said.
He noted that both New
Providence and Grand Bahama have experienced decreases in their unemployment
rates, with 15.0 percent and 14.7 percent, respectively.
Discouraged workers in
the country fell from 6,765 in November 2013 to 4,880 in May 2014, representing
a decrease of 1,905 or 28 percent. Both New Providence and Grand Bahama
experienced a decline in the number of discouraged workers from 3,335 to 2,920
down by 475 or 14 percent in the former and from 1,915 to 760 representing a
decrease of 1,155 or 60 percent in the latter.
According to Mr.
Gibson, the newly instituted National Training Agency; and the Department of
Labour have made contributions in reducing the levels of unemployment in the
country.
One of the functions
of the NTA is to devise strategies and actions that would positively affect the
overall employment rate among the youth between the ages of 15-24. According to labour force survey,
unemployment among this group is considerably higher than any age group and
stands at 28 percent.
The survey also
indicated that unemployment among this target group decreased by about four
percentage points, decreasing from 32 percent to 28 percent over the six-month
period.
“The activities of the
National Training Agency had undoubtedly contributed to this decline in
unemployment as during this period August to December 2013, the Agency trained
over 450 youth and young adults in New Providence and found full time jobs for
well over 100 of its trainees.
“The average wage paid
to these trainees is between $220 to $260 per week. Annually, this reflects
almost two million dollars that would be circulated in the economy,” Mr. Gibson
said.
He added that the
NTA’s second cohort of 170 New Providence trainees recently completed their
prescribed period of training and the first Grand Bahama cohort of over 150
trainees will complete their training in another week, which will bring the
number of persons trained by the NTA to over 800 young Bahamians.
Mr. Gibson revealed
that over the past months, the ministry has held meetings with and plan to meet
with banks, hotels and other businesses all in an effort to ensure the best
possible balance is accomplished between the requests for expatriates and the
need for more Bahamians to be afforded opportunities for employment.
Shane Gibson House Communication - Labour Force Survey