FNM Chairman Dr Duane Sands.
By JADE RUSSELL
Tribune Staff Reporter
jrussell@tribunemedia.net
FREE National Movement chairman Dr Duane Sands accused the Davis administration of trying to "spin" the latest unemployment figures, which he said clearly shows an increase in joblessness.
Bahamas National Statistics Institute officials revealed on Friday that the unemployment rate was 10.4 percent in the third quarter of 2023 and 9.9 percent in the fourth quarter of 2023.
Those rates reflect an increase compared to the 8.8 percent rate from the Labour Force Survey released in May 2023. However, BNSI officials said the quarterly rates should not be compared to earlier bi-annual rates because they reflect a different survey design.
Dr Sands said yesterday: “This is all about spin and trying to put spin on some numbers which are really not impressive. That demonstrates that this administration has taxed the economy so aggressively that unemployment in The Bahamas year over year has increased.”
“Notice that there was no commentary when the numbers went to 10.4 percent because they didn't release those numbers; they released the numbers for both quarters at the same time. Then they say unemployment is down when you compare 9.9 percent to 10.4 percent. But what about when you compare 9.9 percent to 8.8 percent? As I read the data, unemployment has gone up from 8.8 percent to 9.9 percent.”
Dr Sands questioned why joblessness in the third and fourth quarters of last year could not be compared to previous rates since all the surveys reflect a scientific analysis of unemployment. He suggested the government is creating a false narrative and trying to hide that unemployment has increased in the country.
“By definition, the numbers are comparable,” he said. “Now whether the methodology that you use is the same is a different discussion. But if you say that the unemployment rate in The Bahamas as of this quarter in 2023 is 9.9 percent, but in May of 2023 it was 8.8 percent and then in December of 2019 it was 10.7 percent, then you know, you don't get your cake and eat it too.”
On Monday, Prime Minister Philip “Brave” Davis said he was encouraged by the latest unemployment figures, adding that the rate is low compared to other periods.
In fact, since the Great Recession of 2008, The Bahamas has consistently had unemployment rates near or above double-digit territory.
Comments
birdiestrachan 4 months, 4 weeks ago
Never mind this sour, sour person I am inclined to believe he wrights the editorial for that other newspaper put the Rolle, under the bus and they walk away with their hands clean they say, they sold the shares not the FNM government
birdiestrachan 4 months, 4 weeks ago
Never mind this sour, sour person I am inclined to believe he wrights the editorial for that other newspaper put the Rolle, under the bus and they walk away with their hands clean they say, they sold the shares not the FNM government
sheeprunner12 4 months, 4 weeks ago
Many young Bahamians (16-30) don't have soft or hard job skills to hold down decent paying jobs. Most of the low paying jobs (under $300 pw) are taken and many ppl prefer to hustle rather than work for $300.
If you get laid off and over 50, cheaper you live off NIB rather than look for another job (none available). Then NIB going broke from paying out too much and no funds coming in ........ It's just a big mess all around.
ohdrap4 4 months, 3 weeks ago
The struggle of the over 50s is real. But has been so for a very long time.
Those lucky enough to get job offers are offered low wages.
Often, an older worker's greatest is the discipline and not jumping from job to job.
One could only find a job if they know someone. Resumes do not work after age 50.
SP 4 months, 3 weeks ago
There is no shortage of work for low skilled Bahamians. The root of the problem is legal and illegal migrants have solid ethnic networks that literally block Bahamians out in the job market!
Legal foreign workers know about job opening when the job is conceived because employers ask them first if they know anyone that wants a certain job. The expat worker puts the word out and the employer is provided legal and illegal, options very efficiently.
Bahamians don't stand a chance!
SP 4 months, 3 weeks ago
The first order of defense would be stop the blah, blah, blah, threats about hiring illegals and seriously enforce the law by imposing heavy fines for ANYONE caught hiring illegals!
If a few people received $20,000 fines and lose of residency status for hiring illegals the practice would stop overnight.
However, too many politicians are compromised by wealthy expats behind the gates to make this a reality, the result is what we have now.
This is one of the ingrained vicious cycles of systemic political stupidity that has destroyed life for Bahamians.
The reality is, there is no end in sight, because all politicians are beggars. They quickly find themselves compromised and hog tied for a few dollars, meals, favors, and the privilege of being in company of wealthy expats.
sheeprunner12 4 months, 3 weeks ago
That is why the establishment didn't like Minnis ....... He didn't do too well at kissing the establishment asses.
But the rest of these politicians are compromised
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