News

PRESS RELEASE
RE: UNEMPLOYMENT FIGURES, OCTOBER-DECEMBER 2007
HON. MIA AMOR MOTTLEY
LEADER of BARBADOS LABOUR PARTY
LEADER OF OPPOSITION

Owing to the failure of the Government of Barbados to publish the Unemployment Figures for the final quarter of 2007 and given the fact that debate commences in the House of Assembly tomorrow on the Estimates of Revenue and Expenditure for 2008, the Barbados Labour Party Opposition feels duty bound to inform the public that the rate of unemployment for October to December 2007 was 6.7%.

The Barbados Labour Party is gratified that this is the lowest level ever unemployment recorded in Barbados since the compilation of official unemployment statistics.

This achievement of a 6.7% unemployment rate is against the background of our stated policy of Job No.1 being jobs. We believe that growth in an economy can only be sustainable and meaningful if it occurs against the background of the creation of jobs and self-employment. This is the only way that our people would be able to improve their quality of life, for a job represents the human face of development. Our record bears out this commitment having inherited unemployment at 21.8% in 1994.

We believe that it is within our ability as a people to attain full employment.

The October to December, 2007 unemployment figures have been completed by the Statistical Services Department but have not yet been released by the Government of Barbados. These figures are normally available within 6 weeks of the completion of the relevant three-month period, and in this instance, ought to have been available by February 15th, 2008.

We regret that the Government of Barbados has not yet released these figures one month later, especially given their recent stated commitment to Freedom of Information. This failure on the Government’s part becomes all the more disturbing given the fact that the House of Assembly will debate the Estimates this week.

These Estimates must be reviewed against all the most relevant and recent economic data. The 6.7% unemployment rate constitutes a key part of this data against which this debate must take place. No credible economic commentator would be comfortable in analyzing the Government’s economic policy for 2008-2009 in the absence of this information.

Given the continued escalations in the price of energy and food and its inevitable impact on the cost of living, any rise in unemployment will be a double-edged sword for Barbadian families.

While we will not pre-empt discussion on the Government’s economic policy as expressed in the Estimates, we have analyzed the figures and are concerned that they do little to address the problems in the wider global economy.

The Opposition will be asking the Government to explain the various aspects of its economic and financial policy to the public on the floor of the House of Assembly during this week, particularly as it relates to the Government’s Manifesto promises and how it will raise revenue to fund them.