Unemployment up; stats show 5,000 fewer employed persons than this time last year

Date: 
Monday, August 29, 2016 - 14:30

The Labour Force Bulletin for the first Quarter 2016 is showing an increase in unemployment, 5,000 fewer people employed than this period last year.

The bulletin was released by the Central Statistical Office (CSO) on Monday.

The CSO says the information contained in the bulletin was based on data collected in the Continuous Sample Survey of Population conducted during the period January-March 2016.

The following are the details:

Unemployment rate

The overall unemployment rate for Trinidad and Tobago increased from 3.5% in 4th quarter 2015 to 3.8% in 1st quarter 2016. From a gender perspective, the unemployment rate among males increased from 3.4% to 3.7%. Additionally females increased from 3.6% to 3.8% during the same period. When compared to the similar quarter a year earlier the data showed that the overall unemployment rate increased from 3.6% to 3.8%.

Labour Force

The Labour Force of the Republic of Trinidad and Tobago registered 641,900 persons at the end of the 1st Quarter 2016 (Table 1 refers). This represented a decrease of 2,000 or 0.3% when compared to 4th Quarter 2015. From a gender perspective, this decrease in the Labour Force was reflected among males. The data shows that males decreased by 4700 or 1.2% while females increased by 2,700 or 1.0%.

Labour Force Participation Rate

The overall Labour Force Participation Rate for Trinidad and Tobago decreased to 60.1% in 1st quarter 2016. When compared with the corresponding quarter in 2015, the overall Labour Force Participation Rate decreased from 60.7% to 60.1%.

Employed

The survey data showed a decrease of 3,800 or 0.6% in the number of persons with jobs, in the quarter under review. From a gender perspective, the number of employed males decreased by 5,800 or 1.6% while the number of employed females increased by 2,000 or 0.8%. When compared to the corresponding quarter a year earlier, the data showed a decrease of 5,000 or 0.8% in the total number of employed persons in Trinidad and Tobago.

FOR MORE TOP STORIES: http://www.cnc3.co.tt/latest-news