Mar 2015 Financial News

Unemployment rate slightly lower

Mar 27, 2015

There was a slight drop in T&T’s unemployment rate in the third quarter of 2014.

Data just released by the Central Statistical Office (CSO) showed a drop from 3.4 per cent in the previous quarter by 3.3 per cent.

The unemployment rate among males decreased from 3.0 per cent to 2.6 per cent in the quarter under review, while females increased from 4.1 per cent to 4.4 per cent during the same period.

Compared to the similar quarter a year earlier, the data showed that the overall unemployment rate decreased from 3.7 per cent to 3.3 per cent with the male unemployment rate decreasing from three per cent to 2.6 per cent and the female unemployment rate decreasing from 4.7 per cent to 4.4 per cent.

At the end of the third quarter of 2014, there were 660,100 people in the labour force—an increase of 1,100 or 0.2 compared when compared to the second quarter of that year.

From a gender perspective, this increase was reflected among males which fell by 100 or 0.03 per cent. However, females increased by 1,200 or 0.4 per cent.

The overall labour force participation rate remained at 62 per cent compared with the corresponding quarter in 2013.

The survey data showed an increase of 1,700 or 0.3 per cent in the number of persons with jobs.

When compared to the corresponding quarterof a year earlier, the data showed an increase of 13,700 or 2.2 per cent in the total number of employed persons

In the period under review, the largest increases recorded in persons with jobs by occupational group were experienced by technicians and associate professionals (7,900 or ten per cent), craft and related workers (5,000 or 5.5 per cent), professionals (3,100 or nine per cent) and legislators, senior officials and managers (3400 or 6.1 per cent).

However, the largest decreases were recorded in elementary occupations (10,000 or eight per cent) and service workers (including defence force) and shop sales workers (8,900 or 5.3 per cent).

Source:
Trinidad Guardian, A25
Friday March 27, 2015