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Jan 24, 2013

Unemployment rate increases

The Statistical Institute of Belize conducted its most recent labor market survey in September 2012. There are some interesting results when compared to the previous survey at the end of April, 2012.  The unemployment rate increased by one point seven percent to sixteen point one percent, meaning that more than three thousand persons were added to the unemployment numbers. There is a total of twenty four thousand three hundred plus without jobs.  The population grew by three thousand seven hundred persons to three hundred and forty-two thousand six hundred and thirty-six.  The labor force is highly uneducated with as many as seventy-five percent without primary or any level of education.  Those without formal education are at forty-five point nine percent while those who have a primary education are at twenty-eight point eight percent; which means that at least forty-five percent of the labor force is illiterate. Almost half, ten thousand four hundred plus or forty-nine percent of those unemployed have not completed any level of formal education and a whopping sixty-three point five percent are females. As expected, the majority of the labor force, seventy-eight percent are Belizeans; while over ten percent were born in Guatemala with one percent in Mexico.

The young population continues to be the most vulnerable hit by unemployment and most affected by limited opportunities.  Among those between fourteen and twenty-seven years of age, unemployment increased to thirty percent; a significant increase of four point seven percent from where it stood in April 2012.  That unemployment rate doubles the other highest rate of thirteen point eight percent among those twenty-five years of age. Unlike the April 2012 result that placed the Cayo district as the area with the highest unemployment rate, the Belize district has taken over with the highest joblessness. Also of note is that more females are unemployed; as many as fifty-six percent, but men fared better, their rate of unemployment fell by fifteen point nine percent to forty-three point seven percent. The unemployed by ethnicity was consistent with the 2012 results, which shows the Mestizo having the highest numbers of unemployed.

So to wrap up, there is a continuous increase of unemployment among young people which generally is the most productive work group. Also telling is the shift of the unemployment rate from Cayo District to the Belize district at a quick and high rate. Of course, the high unemployment of sixteen point one percent is a source of major concern.

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5 Responses for “Unemployment rate increases”

  1. blackberry says:

    What needs to be included in this Statistics is the education level of the unemployed. Most of the recent migrants who are here are uneducated to the point of not even signing their names. This does not help the level of qualified people for meaningful employment and grow the economy by paying the higher tax level.

  2. Storm says:

    I’m trusting GSU, BDF, and ComPol Whylie to turn the tide in the war on crime.

    That leaves this problem — poverty and an unemployment crisis — as one of the biggest unresolved issues.

    The answer will never be government, because government is inefficient [sometimes corrupt] when it comes to creating jobs. Jobs are properly created by the productive sector — people invest money and labor to create something with more value than what they invested in it, and sell it for a profit. If GOB would GET OUT OF THE WAY of private business, meaning to reduce taxes and greatly reduce regulations, our economy could boom. Maybe we could even attract foreign investment, and accelerate our move on the path to national prosperity.

    We have valuable resources, such as a natural environment that attracts tourists and could be promoted more, and more cultivable land than we need so we COULD produce food for export.

    I encourage non-governmental experts to get together to come up with suggestions on the best ways to ignite a fire under private investment in the Jewel That will create good jobs for anyone who wants to work and have a good future..

  3. Ricky Malthus says:

    @Storm : Storm’s dialectics have great merits; however, the GOB has created negative motivation for private investors to undertake any investments to create jobs and save the country from starvation and total implosion. Barrow wants to continue the same profligate ways of running and ruining the economy. He continues his excessive taxation which is economic warfare against our fellow Belizeans. The entire economy needs overhaul and that Barrow bunch and the cadre of feckless existing , time serving civil servants are not up to the task but collect their pay checks every fifteenth and ending of the month.

  4. Bear says:

    @blackberry, there just aren’t enough jobs in the Jewel these days, for high educated or uneducated people. The economy is stagnant, and nobody is investing here to create new jobs. According to these statistics, it’s only getting worse. I think @Storm is at least partly right, we need to make it easier and more profitable to invest here. I think we probably have less investment here than anywhere else in the region, except Haiti, probably. The economy is dying, we have a reputation for corruption, and a growing one for violence. Would you invest here, if you could choose anywhere in the region? Something’s got to change, or we’ll be looking up at Haiti

  5. Soy del Norte says:

    I just want to note that many immigrants are finding ways to not be unemployed. They can be seen all over Belize selling fruits, food, and clothing. They don’t just sit and wait for a job as many of our fellow Belizeans do..That being said, this government needs to provide incentives for new businesses to start, and therefore create jobs.

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