Bahamas News
BAHAMAS: Economy adds over 2,000 ‘net’ new jobs in November ‘jobs report’
#Nassau, January 22, 2019 – Bahamas – Preliminary results from the most recent Labour Force Survey shows 2,305 net new jobs were added to the Bahamian economy between May and November 2018. While these gains are noteworthy, the rate of job growth is still not adequate to absorb the number of school leavers entering the labour market each year. This accounted for a small increase in the overall unemployment rate from 10.0% to 1
0.7% in May of 2018. Notable, however, is that in the 18-month period since May of 2017 the economy added 10,400 net new jobs, largely in the private sector.
“Overall, we welcome news that the unemployment rate improved in Grand Bahama and Abaco, two of the largest population centres outside of New Providence. The numbers of discouraged workers also decreased, pointing to greater confidence in economic prospects among job seekers. But, our target is a level of growth that will reduce unemployment in a sustained way, and will be felt evenly across the country, so the work must continue and intensify,” said K. Peter Turnquest, Deputy Prime Minister and Minister of Finance.
“Our focus is on strengthening and expanding efforts to boost job growth, directly and indirectly, by investing in entrepreneurship, particularly for young Bahamians, as well as human resource development and other ways to stimulate growth in the private sector,” said Minister Turnquest.
Entrepreneurship
Shortly the government will announce a package of direct financing instruments to get capital into the hands of Bahamian entrepreneurs and small businesses. This will allow for the creation of jobs and for opportunities for self-employment. An element of this will be a grant program targeted specifically at young Bahamians from disadvantaged backgrounds. These plans will give life to the government’s $25 million commitment to Bahamian entrepreneurship announced by the Prime Minister last year.
Human Resource Development
Over the extended term, the renewed emphasis on human resource development and training, as provided for by expanded scholarships for students at BTVI and UB, should build skills and improve their ability to capitalize on job opportunities and also to function successfully as self-employed persons.
Private Sector Growth
The Government’s ongoing initiatives to reinvigorate the Grand Bahama economy through the Commercial Enterprises Act should also serve to accelerate employment gains and bring these numbers down even further. The vision of Grand Bahama as the Tech Capital of The Bahamas has already started to take shape, based on the success of the Commercial Enterprises Act so far. Just last week, a new technology company, Dev Digital, software developers, launched in Grand Bahama looking to hire between 15 and 20 persons.
Additionally, a number of tourism related projects are geared to come on stream throughout The Bahamas in the medium term – in Abaco, Eleuthera, Long Island, New Providence and elsewhere – that will further generate new permanent high quality jobs and significant entrepreneurial opportunities over the medium term.
Labour Force Report Summary – November 2018
Employment statistics are one of the key economic indicators the Government relies upon for evaluating the health of the Bahamian economy.
- The economy added 10,400 net new jobs in the 18-month period between May 2017 and November 2018, largely in the private sector. This includes 2,305 net new jobs added between May 2018 and November 2018, the latest reporting cycle.
- The unemployment rates in Grand Bahama and Abaco improved: Down from 12.4 to 11.9 percent in Grand Bahama; down from 10.7 to 7.7 percent in Abaco.
- The numbers of discouraged workers also decreased, pointing to greater confidence in economic prospects among job seekers.
- New Providence’s unemployment rate increased from 10.1% to 11.0%.
- The preliminary estimates for November 2018 point to an uptick in the unemployment rate, to 10.7% from 10.0% in May of 2018,
Statistics indicate the rate of job growth is not adequate to absorb the growth of the labour force as school leavers join the labour market each year.- More men (110,280) than women (100,280) were employed in the labour force
- The unemployment rate for women was 11.3% in November compared to 10.0% for men.
- Young women (aged 15-24) and core-aged women (aged 25 to 54) were more likely to be unemployed than their male counterparts.
- By contrast, men aged 55 years and over were slightly more likely to be unemployed compared with women in their same age cohort.
The “net” designation indicates a subtraction of the impact of job losses to the calculation to determine true growth or decline in the employment numbers.
Press Release: Central Communications Unit, Ministry of Finance
NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers and distributors of Coca-Cola and Dasani products concluded their 10 weeklong Twist To Win campaign with four $5,000 Mall at Marathon shopping sprees.
The campaign which was available throughout the entire Bahamas allowed consumers to enter by purchasing a 20oz bottle with a yellow cap
from the following brands: Coca-Cola, Coca-Cola No Sugar, Sprite, Fanta Orange, or Fanta Grape. Each yellow-cap had a unique alpha numeric code underneath which they submitted to the Twist To Win WhatsApp number.
With each qualifying purchase, participants residing in The Bahamas were entered to win instant prizes and into a grand prize draw to win one of four $5,000 shopping sprees at the Mall at Marathon.
Participants also enjoyed exciting instant prizes such as: Airpods, JBL Speakers, premium Coca-Cola merchandise, $500 Visa gift cards and Amazon, Spotify and Apple Music digital gift cards.
Out of 76,000 plus submissions, Brian Bethel, Ashia Demeritte, Merlin Adams, and Taraceta Neely won the coveted Mall at Marathon shopping sprees at the following select stores, Kelly’s House & Home, The Sports Center, John Bull, Brass & Leather, and BTC.
Leading up to the grand finale shopping spree, Coca-Cola hosted a Trivia Showdown with the eight finalists to determine the four winners. Finalists were tested on their knowledge of World History, Pop Culture, Caribbean Bottling Company and Coca-Cola Facts!
After a few rousing rounds of trivia, the four winners were declared after each winning their spot in the shopping spree by answering their questions correctly and choosing the “Grand Prize” Coca-Cola labeled bottles at random.
The morning of the shopping spree Coca-Cola gave the winners exclusive access to the Mall at Marathon and its participating stores before
their usual operating hours. Grand prize winners were greeted with wide smiles from Coca-Cola brand representatives and morning bites before the big event.
At the start of the thirty-minute clock the grand prize winners along with each of their Coca-Cola shopping assistants ran to the various stores collecting items in their arms and carts.
Merlin Adams, a husband and father of four was proud to have executed his game-plan at the end of the shopping spree. With toys, a new phone and materials for his home from Kelly’s, Adams felt accomplished in what he gathered.
Taraceta Neely, a winner from Eleuthera collected beautiful bags for herself and relatives from Brass and Leather and Brian Bethel bought matching athletic and outdoor wear from The Sports Center for his family.
The final winner Ashia Demeritte bought linens and household items in addition to a new phone from BTC right in time for Christmas.
Caribbean Bottling Company is proud to share the real magic of Coca-Cola with the grand prize winners and the may instant prize winners across the Twist To Win campaign. For more updates on new products, promotions, and events follow www.cbcbahamas.com.
Bahamas News
The Coca-Cola Art Project Astonishes Art Lovers at The Bahamas Culinary & Arts Festival
NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers and distributors of Coca-Cola and Dasani products displayed
their astonishing Coca-Cola Art Project (CCAP), during Baha Mar’s five-day Culinary & Arts Festival. Earlier this year, Coca-Cola partnered with The University of The Bahamas’ Visual Art and Design Department for a culturally rich art competition. UB’s art students were challenged to create pieces surrounding the theme, Bahamian music.
As a result, 20 student works of art were made, with four students declared as winners at the CCAP exhibit opening in Baha Mar’s ECCHO: Art Gallery in August. To recreate the culturally stimulating magic felt at the exhibit’s premiere, the CCAP was featured at the FUZE Art Tent during The Bahamas Culinary & Arts Festival.
Nine incredible pieces of art lined the walls of the Coca-Cola Art Project, four of which included the winning pieces from Jhanaisia Cole,
with ‘Gaulin Bride’; Alyssa Pinder, with ‘Shotgun Wedding’; Nelson Gray, with ‘Untitled’; and Jaela Bowe, with the piece ‘Whims of Obeah, a Folktail’. Additionally, an intimate listening room was built. It displayed students’ artistic processes, UB Visual Art and Design representatives, and a recap of the exhibit opening for audiences.
Art enthusiasts also enjoyed premium limited-edition CCAP keepsakes at the booth. Journals which featured a collage of all 20 student submissions on the front and back cover, postcards with an art piece on the cover along with the student’s name, title, dimension and materials on the back and pens designed with the CCAP’s dynamic logo.
Throughout the art festival diverse groups of people visited the art tent taking in the displays while enjoying the artistic insights from the
listening booth.
Community and culture are always at the forefront of Caribbean Bottling Community, and it was boldly showcased during The Bahamas Culinary & Arts Festival for the third consecutive year.
For more details on the Coca-Cola Art Project, events and new products visit www.cbcbahamas.com today!
NASSAU, Bahamas — Caribbean Wines & Spirits (CWS), The Bahamas’ premier wines and spirits distributor delighted Jollification
attendees with bubbles from their Bottega and Bouvet Ladubay sparkling wines and Besserat de Bellefon champagne lines.
Located in the Monument Circle on The Retreat grounds, CWS transformed The Retreat Garden into a lush lounge with Besserat, Bouvet and their latest product addition, Bottega, during the two-day affair.
The festivities kicked off Friday during BNT Member’s Night. Guests enjoyed exclusive offerings from CWS’s catalogue, offered exclusively to members. Complimentary mixes or glasses on the rocks included El Tequileno tequila, Hard Truth whiskey, House of Angostura rum, Cross Keys gin, Nemiroff vodka and a slew of wines such as Fonesca Bin, Bottega and Besserat.
Guests also savored the ‘Jolly Paloma’ cocktail, an instant favorite made with El Tequileno tequila, Schweppes Grapefruit and Domaine de Paris rose wine. To end the night, guests were treated to branded limited-edition wine tumblers as keepsakes.
On Saturday and Sunday, Jollification attendees delighted in glasses or bottles of champagne and sparkling brut or rosé wines while taking
in the comfort of the chic lounge. In addition to purchasing bottles for onsite consumption, consumers were also able to purchase bottles as gifts whether for themselves or someone special.
The sophisticated “bubble lounge” lounge was decked with velvet couches, gold rimmed cocktail tables, blue and pink pillows, and a white floral branded backdrop created for capturing the perfect picture.
Caribbean Wines & Spirits, a historic partner of the Bahamas National Trust was pleased to support Jollification 2025 to kick off the festive season and share their expansive range of spirits.
To keep up to date with all CWS products and events, visit their website at www.cwsbahamas.com today.
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