Jun 2010 Financial News

Unemployment rate decreases

Jun 08, 2010

This country’s unemployment rate decreased by 0.7 per cent during the fourth quarter of 2009.

A statement issued by Central Statistical Office (CSO) yesterday said:
“As expected, the unemployment rate for Trinidad and Tobago fell 0.7 per cent to 5.1 per cent in the fourth quarter of 2009 from 5.8 per cent in the third quarter of 2009.

“This compares with an increase in the unemployment rate of 1.2 per cent between the third and fourth quarters of 2009.” CSO said females contributed more to the decrease in the unemployment rate than males. The highest unemployment rate was recorded in the age group 15-19. The statement said the largest decrease in the unemployment rate between the third and fourth quarters was observed in the petroleum and gas industry, and included production, refining and service contractors.

At the end of the fourth quarter of 2009, the labour force in T&T registered 613,500 people. It was a decrease of 2,600, or 0.4 per cent, when compared to the recorded figure of 616,100 for the third quarter of 2009. “The industries which experienced the largest decreases in unemployed persons were construction (2,000), wholesale and retail trade, restaurants and hotels (900),” the CSO said. It added that the total number of unemployed persons decreased from 35,900 in the third quarter of 2009 to 31,000 in the fourth quarter–a decrease of 4,900 unemployed persons, or 13.6 per cent.


Source:
Trinidad Guardian
Tuesday June 8, 2010

http://guardian.co.tt/news/general/2010/06/08/unemployment-rate-decreases