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BAHAMAS: Economy adds over 2,000 ‘net’ new jobs in November ‘jobs report’

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#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 10.7% 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.

  1. 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.
  2. 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.
  3. The numbers of discouraged workers also decreased, pointing to greater confidence in economic prospects among job seekers.
  4. New Providence’s unemployment rate increased from 10.1% to 11.0%.
  5. The preliminary estimates for November 2018 point to an uptick in the unemployment rate, to 10.7% from 10.0% in May of 2018,
  6. 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.
  7. More men (110,280) than women (100,280) were employed in the labour force
  8. The unemployment rate for women was 11.3% in November compared to 10.0% for men.
  9. Young women (aged 15-24) and core-aged women (aged 25 to 54) were more likely to be unemployed than their male counterparts.
  10. 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

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Nassau Cruise Port Donates Nearly $2 Million Towards Food Security

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Nassau, Bahamas: The Nassau Cruise Port has donated $1.95 million towards
projects that will assist the Ministry of Agriculture and Marine Resources in its aim
to increase food security for The Bahamas.

The donation officially occurred at the Ministry’s offices recently, where Minister
of Agriculture and Marine Resources Hon. Jomo Campbell, Minister of Labour
Hon. Pia Glover-Rolle, Permanent Secretary Neil Campbell and Nassau Cruise
Port CEO Mike Maura listened to a number of presentations including one for a
poultry programme for schools, a chicken broiler production programme, the
redevelopment of the Blue Hill Road Farmers Market and an Authentic
Bahamian Cultural Concept Store,

Mr. Maura said he was impressed by the presentations.

“I had the privilege to listen the presentations and review presentations that
touched on food security and the need for us to be self-sufficient, which as a
Bahamian I support completely. At the Nassau Cruise Port, we get excited
about the prospects of offering more authentic food to the millions of visitors
that we have each year,” he said.

“And then, in addition to that, we had presentations around the further
development of our artisans, which is so important to us as well. The guests
visiting our shores are looking for something that really touches The Bahamas
and can’t be found somewhere else. The Nassau Cruise Port has made a pledge to BAIC and its affiliates. We will be supporting the projects that were presented and we can’t wait to get started.”

Minister Glover-Rolle, who is also the Member of Parliament for Golden Gates,
hailed Nassau Cruise Port as a “great community partner.”

“Thank you for the opportunity to not only present but agreeing to participate.
Our Minister of Agriculture has a goal of reducing food imports by 25 percent by
the year 2025 and our project in the Golden Gates Community speaks to that,”
she said.

“We have a number of backyard farmers, farmers and fishers in our community
in Golden Gates. Being able to use the Blue Hill Road Farmers Market, which is
going to be dubbed the ‘Fish Fry of the South,’ as a hub for food security but
also a hub where artisans and handicraft persons can come and sell their wares
is wonderful. So, we are happy that you have agreed to partner with us and we
look forward to a partnership and we hope to welcome some of your visitors
when this amazing renovation is done.”

Minister Campbell also lauded the Nassau Cruise Port for its efforts.

“I would like to say thank you to the presenters for the presentations that are
several steps in the right direction for our country, to Mr. Maura and his board at
the Nassau Cruise Port and I would like to say thanks to God for this partnership
and bringing us all together as we move forward, upward, together in building a
better, brighter, future for The Bahamas,” he said.

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Career Symposium 2024 Connects University Students with Successful Professionals

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Nassau, THE BAHAMAS — Some of the most successful and accomplished professionals and business leaders in the country recently shared their experiences and nuggets of wisdom with students at University of The Bahamas (UB) about thriving in a wide range of careers.

The University Centre for Counselling and Career Services and the Career and Job Placement Advisory Unit collaborated to host the 2024 Career Symposium which brought students face to face with leaders in the careers to which they aspire.

Vice President of Academic Affairs, Dr. Maria Oriakhi, said the symposium was key to developing potential as university students strive to leave their mark on the world.

Ms. Rickell Curry

“In the spirit of collaboration and growth, let us engage in meaningful dialogue, cultivate relationships, and harness the power of collective wisdom to shape our futures,” said Dr. Oriakhi. “Together, let us embark on this journey of exploration and discovery, united in our commitment to realizing our fullest potential and making meaningful contributions to our communities and beyond.”

Promoting careers in psychology, Ms. Curry noted that psychologists are equipped with the ability to help others, troubleshoot areas of weakness within themselves, and become better people and professionals in the process.

“The floor is yours to be able to explore. There’s no job where you don’t have to deal with people, so learning, even if you get a bachelor’s in psychology, is a great grounding,” she said.

Dr. Darville, one of few interventional radiologists in The Bahamas, offered another nugget of advice on choosing an area of study.

Dr. Elizabeth Darville

“It is important to know enough about yourself in order to make the decisions you want to make,” said Dr. Darville. “You have to work on yourself first and know what you want to do. Radiology gives you a chance to have fun. It gives you a chance to mold your career closer to your personal life than other medical specialties might.”

Another growing field is project management which Mr. Hepburn called a life skill. He also urged a commitment to lifelong learning.

“Individuals that continue to learn become unstoppable, period,” said Mr. Hepburn. “It is so true. When you learn, you become unstoppable because nothing can stop you in your process of development.

Mr. Wellington Hepburn

“The more you know, the more valuable you are. We need individuals who are cross functional—that can operate in different capacities. So please understand that your learning should never stop.”

With small and medium-sized businesses helping to drive the economy at an incredible rate, Ms. Rolle affirmed the importance of entrepreneurship in any economy.

“When we talk about entrepreneurship, we usually look at it from a myopic standpoint,” she said. Ms. Rolle. “What do I mean by that? Small, but usually about self: ‘how do I make more money?’ And in some cases, some look at entrepreneurship as a way of survival. ‘I need to make a couple extra dollars, I have this bill to pay’. Those types of things.

Ms. Samantha Rolle

“But entrepreneurship really, in its truest form, is about innovation, whether it’s a new concept or any existing concept that you innovate new ways, or help expand the economy.”

The career symposium was held at the Harry C. Moore Library and Information Centre and is held every academic year.

 

PHOTO CAPTIONS

 

  • Career Symposium 1: UB Vice President of Academic Affairs, Dr. Maria Oriakhi, delivers the opening address at the 2024 Career Symposium.
  • Career Symposium 2: Students and guest speakers enjoy a lighthearted moment during the 2024 Career Symposium.
  • Career Symposium 3: Ms. Rickell Curry speaks to students during the 2024 Career Symposium.
  • Career Symposium 4: Dr. Elizabeth Darville delivers remarks during the 2024 Career Symposium.
  • Career Symposium 5: Mr. Wellington Hepburn educates students on the importance of project management during the 2024 Career Symposium.
  • Career Symposium 6: Ms. Samantha Rolle talks about the role and importance of entrepreneurs and entrepreneurship in any economy.

 

Office of University Relations

University of The Bahamas

2nd Floor, Michael H. Eldon Complex

Oakes Field Campus

P.O. Box N-4912

Nassau, The Bahamas

Tel: (242) 302-4355/4354/4365

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$36 Million Dollar Upgrade for World Athletics Relays in Nassau, Bahamas

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Rashaed Esson

Staff Writer 

 

#TheBahamas, April 15, 2024 – After years of thorough maintenance, The Thomas A Robinson National Stadium in The Bahamas is finally getting a multi-million dollar makeover, readying the 10-year old facility ahead of the World Athletics Relays on May  5, 2024; it is being staged in Nassau for the fourth time.

This $36 million refurbishment is being funded by the Chinese Government, as part of a vision to enhance the country’s sport infrastructure to benefit youths in athletics. The stadium was gifted to The Bahamas in 2012 by the Chinese.

The relay is the qualifying event for the 2024 Summer Olympic Games and there will be 32 national teams, in each relay event, and 20 races on both days of competition, according to World Athletics.

Day 1, will have 20 heats across the five Olympic-calibre events (4 heats each for 4×100, 4×400, men, women and mixed) and will qualify 40 teams for the Summer Olympics.

Distinctly, the top two teams from each heat will directly qualify for the 2024 Games.

On day 2, 30 more national teams will be qualified through 15 heats and five finals, across those five events.

The upgrades which include new trusses, rooftops, seats, the lawn, score boards, LED displays and more, are expected to be complete at least two weeks before the relays, being held under the theme: ‘Chase the  Sun’.

In a special ceremony on Monday April 8, The Bahamas Prime Minister, Philip Davis said:

In December 2023, our shared vision took shape, as the government of the Commonwealth of The Bahamas, and the government of the People’s Republic of China, inked an implementation agreement for the renovation of the stadium. This gesture of goodwill and friendship, from the Chinese government to undertake the China Aid Maintenance and Renovation project of our national stadium, stands as a testament to the strong bonds that unite our countries. This project, executed by China Urban Construction Research Institute Company Limited, and the China Machinery Industry Construction Group Company Limited, reflects our shared commitment to excellence, innovation and mutual development.”

Additionally, H.E Dai Qingli, outgoing Chinese Ambassador to The Bahamas who also attended that ceremony, spoke.

“At the end of the project, the Bahamian people will get a fully renewed and modern world class stadium because everything is going to be either renewed or repaired,” she said.

Some 1,600 athletes will be in The Bahamas for the World Athletics relays, with five events.  The Bahamas won the bid over Lausanne, Rome in 2022.

Mario Bowleg,  Minister of Youth, Sports and Culture in reports, thanked China for their contribution to the redevelopment of the stadium.

“We thank them for their commitment to ensuring that they bring this facility back up to A1 standard so that we can continue holding international events and using these facilities as a development of our young people.”

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