Categorized | National News

Labour Director Predicts Continued Unemployment Decrease

Labour Director Robert Farquharson is convinced that the recent decline in the country’s unemployment figures will continue its downward trend.

Mr. Farquharson’s optimism is based on a number of bigwig investment projects in the pipeline.

In his wrap-up to the 2016/2017 Budget debate last month, Prime Minister Perry Christie noted the continued impact some $7.8 billion in foreign direct investment over the next decade which is estimated to create over 8,000 construction jobs and a minimum of 5,000 permanent jobs “as new projects come on stream.”

“There were some increased job opportunities in a number of Family Islands and New Providence, particularly in the construction industry, as well some additional opportunities set to come on stream in the next 30-60 days in the hospitality sector with a resort opening on Paradise Island,” Mr. Farquharson said in an interview with the Bahama Journal.

“The pending reduction in unemployment could also be attributed to the expected employment opportunities if Baha Mar comes on stream.”

The prime minister just last week noted that the government is closer to resolving the controversy surrounding the beleaguered Cable Beach resort than it has ever been.

“I’m confident more job opportunities that come via foreign direct investment will cause the unemployment rate to continue to reduce,” Mr. Farquharson said, adding that he wasn’t overly concerned about the “noticeable” increase in the jobless figures of both Grand Bahama and Abaco considering the proposed ventures on tap for these islands.

“We know there is significant investment in Grand Bahama with Phase 4 of the Grand Bahama Container Port coming on and that is expected to employ a number of Bahamians in both the construction and operational aspects.

“Hopefully, when the next survey takes place there will be a reduction in Grand Bahama. As for Abaco, I’m a bit uncertain because there a lots of job opportunities in Abaco especially at the Baker’s Bay property.

“As far as we know, there is nearly full employment in Abaco and if there was a slight increase that could be attributed to the fact that when the survey was taken, persons who were employed at that time may have recently lost their jobs,” Mr. Farquharson said.

Statistics show that discouraged workers declined by 10 per cent.

New Providence, Grand Bahama and Abaco experienced drops in this category by 14 per cent, 16 per cent and seven per cent respectively.



Written by Jones Bahamas

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