Local employment rate increased by 43 percent since 2000

The content originally appeared on: NBC SVG

There has been a 43 per cent increase in actively employed persons in the St Vincent and the Grenadines since 2000.

Minister of Finance Camillo Gonsalves made the disclosure while responding to question in the House of Assembly on Thursday.

Minister Gonsalves said that the 43 per cent increase in active employees is almost entirely in the formal sector.



The Finance Minister further provided an example of why the 43 per cent does not represent the whole society, explained that while there are 8000 active farmers and fishers listen by the Ministry of Agriculture and Fisheries, the National Insurance Services lists only 315 active employees in the Agricultural Sector.



Minister Gonsalves further explained the increased has not been linear with data indicating dips in active employment in 2008 global and economic crisis and the 2021 covid19 pandemic.

The draft 2022 Labour Force Survey Report revealed that the size of the labor force was 54 080 person which is a participation rate of 65%


The minister noted however that given the period where the survey was conducted, anecdotal evidence would suggest the unemployment rate is lower today than one year ago.

Minister Gonsalves also stated that the report states that unemployment declined from 15.2 per cent in 2019 to 10.8 per cent in 2023.



Minister Gonsalves pointed out that the draft report defines youth as persons 15- 25 years old and said that the government is currently seeking clarifications from the drafter as to data related to persons particularly in the 15-18 age range.

The Labor Force Survey was conducted under the World Bank Funded Human Development Service Delivery Project.