Survey Conducted in May Reveal 14% unemployment in Nassau and 17.4% in Grand Bahama

Director, Kelsie Dorsett. (BIS Photo/Raymond A. Bethel)

(Nassau, Bahamas) The Department of Statistics has released the results of its Labour Force and Household Income Survey which is conducted annually during the month of May.

The results showed substantial declines in New Providence and Grand Bahama for both males and females. Employment in the country declined overall by 9.8% since 2008.

The results of the survey further show that the unemployment rate continues to climb. For New Providence, the rate of 8.7% in 2008 increased to 12.1% in February then to 14% in May.  A similar trend was experienced in Grand Bahama  9%, 14.6% and 17.4%. These rates are the highest experienced since the early 1990's.

For the country there were 9,540 more unemployed persons in 2009 than there were in 2008.  This resulted in the unemployment rate increasing from 8.7% in 2008 to 14.2% in 2009.

Of the unemployed persons in New Providence more than a quarter had left their jobs within the last twelve months.  Of these persons, 51% were either laid off, dismissed, or the business in which they were employed ceased operations.

In Grand Bahama approximately twenty two percent of the unemployed persons left their jobs within the said period, and of these persons, slightly more than a third (36%) were laid off, dismissed, or the business where they had worked ceased operations.

The survey estimated the number of private households in The Bahamas to be 199,260 and increase of 1.2 percent over the one year period.

New Providence households experienced a decline of 13.6% in their household income which now stands at $40,548.   The decline for households in Grand Bahamas was slightly lower (8.7%) decreasing from $41, 172 in 2008 to $37,562 in 2009.

Further details pertaining to the 2009 survey will be available at the end of September when the final report is completed and released.