Bahamas News

DEPARTMENT OF STATISTICS PRESS RELEASE – Preliminary Results — Labour Force Survey (May 2017)

Published

7 years ago

August 14, 2017

Bahamas, August 14, 2017 – Nassau – Unemployment rate in the Bahamas declines 1.7%. Since November 2016, the unemployment rate declined from 11.6% to 9.9% due to an increase (7,770) of employed persons and a decrease (3,485) of unemployed persons. The three most populated islands that were surveyed experienced decreases in their unemployment rates. At the time of the survey (April 24 – 30, 2017) the rate in New Providence was 10.4%; in Grand Bahama, 12.4%, and Abaco 7.8%.

Among the employed labour force, there were more men than women. However, in all the islands surveyed except Abaco, men were fewer in numbers among the unemployed labour force. In May 2017, vulnerable employment was 8.2% of total employment. During the period 2012 to 2017, the share of workers in vulnerable employment was fairly stable and ranged between 7.0% and 9.2% of the employed labour force.

The percentage of men in this category was higher, although the percentage points differences between men and women were fairly small. These workers as defined by ILO are less likely to have formal work arrangements, and more likely to lack decent working conditions and are often characterized by inadequate earnings and benefits.

The private sector absorbed most of the new jobs since November 2016. However, when examined by industry, the “Community, Social and Personal Service” industry which includes the civil service, police service and the domestic services posted a 29.1% increase in employment; hotels and restaurants posted 26.2% increase and construction posted 20.0% increase.

Unemployment among youths (15-24 years) in the country continued to be considerably higher than any other age group which is common to most countries. However, there was a slight decline in the rate from 25.1% recorded in November 2016 to 24.1%.

Discouraged workers in the country declined by 8.8% over the six month period. New Providence, Grand Bahama and Abaco experienced declines in the number of discouraged workers – 11.3%, 8.1% and 14.6%, respectively. These persons, according to the standard definition of the International Labour Organization (ILO), ‘’did not look for work because they believed no jobs were available for them’’.

The Department of Statistics is the Government Agency in The Bahamas mandated by law to collect, process, analyze and disseminate statistics. Its mandate is to deliver timely official statistics. Please contact the Department of Statistics @ 242-604- 4000 for questions and enquiries. This release, with accompanying tables, will be immediately available on the Department’s website, www.bahamas.gov.bs/statistics. Further details will be available by September 2017.

Bahamas News

Bahamas economic growth

Published

3 days ago

May 4, 2024

Shanieka

Rashaed Esson

Staff Writer

The Bahamas’ economy is in good standing according to reports from the Bahamas National Statistical Institute which released the Quarterly Gross Domestic Product Series. They indicate that quarterly GDP trends for 2023 saw increases compared to 2022, a sign of recovery from the Covid 19 pandemic.

The most significant increase was 9.9 percent in the first quarter of 2023, and the industries responsible for the growth include Accommodations and food, construction and Arts.

Bahamas News

RBC appoints new Country Manager and Area Vice President for Turks & Caicos

Published

3 days ago

May 4, 2024

Shanieka

RBC Royal Bank (Bahamas) Limited (“RBC”) is pleased to announce the recent appointment of Kerryl-Lyn King-Henry as Country Manager and Area Vice President (“AVP”), Personal and Commercial Banking, Turks & Caicos Islands (TCI).

In her new role as Country Manager and AVP, King-Henry will take on full responsibility for the bank’s operations, strategy, and development in the TCI market, with a strong focus on solidifying partnerships with the Government, regulatory bodies, and the local community.

King-Henry brings to the role a dynamism influenced by nearly 25 years of industry experience. Prior to her new appointment, she served as AVP of Business Banking in Trinidad and Tobago. She has held progressively senior roles within both personal and commercial banking, as well as various functional units.

King-Henry holds a Master of Business Administration (MBA) degree, with a specialization in Leadership, FinTech and Big Data Analysis, in addition to a Bachelor’s Degree in Business Administration. Further enriching her professional profile, Kerryl-Lyn is a certified John C. Maxwell Coach, Trainer, Teacher, and Speaker. Her passion for leadership and development is matched by her commitment to community service, as she actively volunteers her time and leverages her professional expertise to mentor and support others. “

Kerryl-Lyn’s extensive experience and proven leadership capabilities make her the perfect choice to lead our operations in the Turks & Caicos Islands,” said Ericka Rolle, RBC’s Managing Director and Vice President, Personal Banking, The Bahamas and TCI.

“Her commitment to excellence, combined with a genuine passion for community engagement, aligns perfectly with our Bank’s purpose of helping clients thrive and communities prosper. We are excited to see the positive impact she will undoubtedly bring to her new role,” she added.

Bahamas News

Get your laugh on, March On show coming to Turks and Caicos with box office at IGA Friday and Saturday

Published

3 days ago

May 3, 2024

Shanieka

Dana Malcolm

Staff Writer

After resounding success in the Bahamas, hit play ‘March On, The Story of Us’ has been inundated with requests to take their show on the road, and the first location they’ll be hitting is Providenciales Turks and Caicos with tickets on sale this weekend from May 3 to 5.

Magnetic Media spoke to Gea Pierre, playwright, who told us the TCI was a natural first choice for the cast and crew.

“We started ‘March On’ in November 2023 and it was really an opportunity for us to tell a story, the story of the Bahamas and to encompass the nations that we have an amazing relationship with like the Turks and Caicos,” she continued “We really got a lot of people calling [for the play] from [the TCI], so much so we really had to pay attention.”

The response to ‘March On’ at home and abroad was overwhelming.

“To say it went well is an understatement, even before we opened we got calls from Canada, from all over the US with people wanting us to come and perform.”

And take the show on the road they did! Gea and her team have launched “March On: The Tour” and will be in Providenciales to perform on May 10th and 11th. It’s the first of a number of stops which include Nassau and several US locations.

A ticket booth will be set up from today, Friday May 3 in the foyer of IGA grocery store beginning at 1 p.m. Friday and then again all day on Saturday, allowing residents to purchase with cash.

Online tickets are available for purchase with credit cards. Then the full team returns on Friday, May 11 for the actual showing at 8 pm and their two showings on Saturday at 4pm and 8 pm. The venue is Brayton Hall, Providenciales under the patronage of Washington Misick, TCI Premier and First Lady Delthia Misick.

Describing the close familial relationships between the TCI and the Bahamas, for many on the crew it will be like coming home Gea told us, for others it will be a treat to visit for the first time, the places that their grandparents described.

Tickets are only $60 for general seating and $75 for VIP seating.

Gea maintained that the team wanted to keep the show as accessible to residents as possible.

As for why you should come out and see the play, other than the great price point:

“The way that people have responded to it is non stoplaughter, people have been moved to tears because there’s some emotion. It does not only lend to Bahamians. It’s a family drama, and anyone who’s ever been a part of a family is going to get something out of it, and something moving.”