IDB reports unemployment at its lowest in 15 years
NASSAU, BAHAMAS — Anyone looking for a job in The Bahamas is in a great position as the country is experiencing a tourism boom that’s translating to historically low unemployment.
For jobseekers, that means that the ideal time to look for jobs is now, and with resources like Caribbean Employment Services Inc. and the Bahamas Department of Labour Skills Bank, they have ample resources to make that happen.
Jobseekers can create an account for free, apply for jobs that match their interest and skillset and be the first to know when new opportunities become available.
The government’s own in-house skill bank operates in a similar fashion, with the Department of Labour just recently hosting a sign-up drive in an effort to get more Bahamians to join the platform.
IDB shows boom is boosting jobs in The Bahamas
According to the Inter-American Development Bank’s (IDB) most recent Quarterly Caribbean Economics report, “The Bahamas is experiencing a tourism boom since the easing of international travel restrictions since mid-2022, and visitors from key source markets make up for the inability to travel during the previous two years.
“Such [a] boom is having the expected positive impact on the Bahamian economy: increasing employment and raising government revenue.”
The IDB said Bahamian society is “ in a good position to make the most of the tailwinds from the tourism boom”, granted there are intentional efforts to:
- Invest more in physical capital
- Boost human capital
- Continue diversifying the economy
These key steps will help increase economic growth and productivity in the medium-term, it added.
Perhaps not by mere coincidence, the IDB noted that as jobs in The Bahamas abound, unemployment is also historically low.
It cited the country’s most recent Labour Force Survey, undertaken in 2023.
“At the time of the survey, there were 19,290 unemployed persons in the country, resulting in an unemployment rate of 8.8 percent — the smallest in 15 years,” the IDB noted.
“By sex, the unemployment rate for men was higher (9.1 percent), compared to 8.5 percent for women.”
Additionally, it said, “The labour force participation rate in The Bahamas is 75.9 percent.
“Women are the main contributor to the labour force, representing 54 percent of the 219,465 [individuals] that comprise it.”