NASSAU, BAHAMAS — Free National Movement (FNM) Chairman Dr. Duane Sands says that the recent unemployment figures contradict the government’s claims of economic resurgence and tourism recovery, attributing much of the blame to government policies and actions that have negatively impacted businesses.
Sands told Eyewitness News: “The numbers speak somewhat for themselves. Whether you look at the 10.4 percent or 9.9 percent, it’s still higher than the 8.8 percent this administration touted last year. If the economy is thriving and if joblessness or job creation is a reasonable metric of the status of the economy, then shouldn’t we expect the unemployment rate to be falling? Notwithstanding the spin and attempts to nuance the discussions, I think the public will agree that things are certainly not better than they were and are probably worse, as confirmed by the statistics released. The question we ask Bahamians is: are you better off now than two years ago, a year ago?”
Recent data released by the Bahamas National Statistical Institute (BNSI) noted that the country’s unemployment rate in the third quarter of last year was 10.4 percent and 9.9 percent in the fourth quarter.
Sands continued: “Certainly, the taxes placed on businesses and consumers have probably contributed to this bump in unemployment. Will this administration take responsibility for the fiscal and other maneuvers they have taken that have made it so difficult for businesses to function, which doesn’t allow them to attract or maintain workers, or whether they’re just going to say this is a fluke and in this instance ignore the numbers? Small businesses are the engines of the economy and are finding it difficult to keep staff.”
Labour and Public Service Minister Pia Glover-Rolle in a statement said: “The Ministry of Labour and the Public Service remains optimistic about Bahamians’ employment prospects as a result of today’s update by the Bahamas National Statistical Institute (BNSI) regarding the country’s unemployment rate of 9.9 percent at the end of 2023.
For much of the past 20 years, the unemployment rate has hovered in the double digits. In fact, the Davis Administration is responsible for bringing unemployment down to the lowest rates seen since 2008. We will continue to build on this track record of success by implementing effective economic and labour policies to create opportunities for Bahamians.”
Glover-Rolle touted the impact of the Davis administration’s policies on youth unemployment as the number of unemployed youth decreased by 1,475 in the fourth quarter of 2023.
