The unemployment rate took a dive as more people are counted among the workforce, according to the Department of Statistics this past Friday.
Preliminary figures indicated that 4,330 persons were working at the time the most recent labour force survey was conducted in May 2018.
Senior Statistician Cynpreanna Winters said, “Two of the three most populated islands that were surveyed experienced decreases in their unemployment rates, and one experienced an increase.”
“At the time of the survey, the rate in New Providence was 9.4 percent and in Grand Bahama 10.9 percent. On the other hand, Abaco’s unemployment rate increased from 7.7 percent in November to 9.3 percent in May,” Winters added.
The hotel and restaurant sector reportedly experienced the greatest increase while the community, social and personal service industry which accounts for 35 percent of the workforce.
This includes the civil service, police service and domestic service, which continued to be the country’s largest employer.
Statisticians also revealed that the number of discouraged workers also declined overall by two percent, one percent in New Providence and 5.4 percent in Grand Bahama.
Mrs. Winters added that vulnerable employment remained unchanged in May 2018 with no difference in its rate of 6.9 percent.
Males, she said, dominated this category.
Vulnerable employment, as defined by the International Labour Organization (ILO) are workers less likely to have formal work arrangements and more likely to lack decent working conditions and are often characterized by inadequate earnings and benefits.
Women were also reportedly more likely to be unemployed than men.
Mrs. Winters said, “Overall, the unemployment rate for women dropped to 9.9 percent in May, compared to 9.2 percent for men. Young women, those aged 15-24 and core-aged women, those aged 25-54, were more likely to be unemployed than their male counterparts.”
In contrast, she said, men, 55, and over were slightly more likely to be unemployed in comparison to women in their same age cohort.
