BY SHENIA ROBERTS
JOURNAL STAFF WRITER
Not since Perry Christie was prime minister, the leader of another Progressive Liberal Party administration from 2002-2007 has unemployment in The Bahamas been as low as it is now. At that time the low level was branded as being at an “irreducible minimum.” This week, the Bahamas National Statistical Institute (NSI) released data from the quarterly Annual Labour Force Survey 2024..
This initiative was implemented as a part of The Public Financial Management or Performance Monitoring Reform Project (PFM/PMR) which was funded by The Inter-American Development Bank in 2016.
Component II of the project which refers to as “national statistics” is supposed to “enhance the production of quality statistics in key data producing agencies in order to improve the institutional capacity to plan, budget, monitor and evaluate priority projects and programs.”
It is with these objectives in mind that officials decided it would be more beneficial to the cause to conduct quarterly surveys to provide numbers every few months. These numbers would reflect any sudden changes to the workforce and help to narrow down the causes.
Nerissa Gibson, managing director Of NSI highlighted the government’s overall mission for the initiative expressing that “ it was the government’s objective to strengthen the country’s statistical capacity to produce high quality, timely, reliable and disaggregated data to support effective policy and decision making and to ensure the continuous review of the country’s progress in the implementation of the sustainable development goals.”
Additionally, she highlighted that in effort to meet such demands the transition from a bi-annual survey to a quarterly one was birthed. The new survey requires information on employment, underemployment and the informal sector by multiple demographic characteristics.
Gibson then shared some of the findings from the first quarter stating that there were 213,585 people employed in the first quarter which reflects a one percent decrease in unemployment since the last quarter of 2023. Gibson also noted that the labour force experienced a decline of slightly over one percent compared to last year’s numbers
According to the overall findings for the year so far unemployment in The Bahamas has hit its lowest level since 2008. Based on the latest data collected, during the first half of 2024 unemployment rates reflected 8.7%, a 1.2% decrease since 2023. This breaks the 8.8% record in May 2023, being the lowest recorded unemployment rate in 16 years.
Additionally, the data collected also reflects growth across multiple demographic groups since the fourth quarter of 2023, specifically increased employment in both men, women and young people.
Pia Glover-Rolle Minister of Labour and the Public Service, commented on the growth and what it can mean for The Bahamas. She shared her excitement for future plans saying “the decrease in the unemployment rate over the past three years is proof that the economic and labour market policies of the Davis administration are working. We have generated growth by expanding and diversifying key industries, bringing in over $10 billion in new investments, and making key government investments in infrastructure, digitalisation, and support for local businesses. Given the positive impact of our policies, we expect to see even more good news in coming months.”
Many may attribute the fluctuation in unemployment to the government’s numerous employment initiatives namely the Department of Labour initiatives like the Labour on the Blocks and Labour on the Campus job fair initiatives, job readiness initiatives hosted directly by the Department of Labour and at the National Training Agency, Fresh Start Program, The National Youth Guard and many others.
However, Assistant Director with responsibility for the Labour Force Survey Cypriana Winters shared that a lot of the numbers are a reflection of seasonal work and reflect the peak seasons like the Christmas holiday, crawfish season or summertime during peak tourism periods. She also explained the difference in the amount of men employed versus the amount of women explaining that men may find it easier to find jobs as they can be useful in manual labour.
Furthermore, minister Glover-Rolle explained that the objectives further emphasizing that they intend to increase employment levels, and the range of high-quality jobs being made available to Bahamians. She further highlighted the efforts the government has made so far saying “through our job fairs, we have linked thousands of Bahamians with employers, and when we meet with major investment projects, such as the resorts and private island destinations that are being expanded.”
Minister Glover-Rolle also expressed that the Ministry of Labour is committed to fostering both job market growth and economic expansion. This she advised will be accomplished through a series of reforms designed to modernize and enhance the productivity of the local labour market.
She emphasized their commitment saying “we have just completed the first draft of our White Paper on labour market legislative reforms, which will help us to leverage global challenges and opportunities like climate change and digitalisation. At the same time, we are strengthening laws and policies to protect workers’ rights, exploring ways to increase compensation in the public and private sectors, introducing new training opportunities like the upcoming National Apprenticeship Programme to improve employability, and working closely with employers and unions to ensure that all stakeholders have input into the important work we are doing.”
According to officials these initiatives are just the beginning and will be ongoing as a part of the Ministry’s plan to “reimagine labour and public service by positioning Bahamian workers for 21st century success.”
