Unemployment rose to 13.0 percent
WILLEMSTAD - The Central Bureau of Statistics) held in September/October 2013 a Labor Force Survey (AKO) in Curaçao in. The AKO is a sample survey of households which CBS periodically performs with the aim to measure recent developments in the labor market. These are developments in the unemployment rate, participation rate, the size of the working population and the size of the job seeker population.
The measurements are the result of the developments that have taken place in the period between two points in time, namely October 2011 and October 2013.
Important AKO 2013 results:
• The unemployment rate in October 2013 is 13.0 percent. Compared to 2011 (9.8%) this is an increase of 3.2 percentage points.
• The job seeker population has increased by nearly 2,800 people and in 2013 has reached a level of more than 9500, about 41 percent more than in 2011 (6700).
• The number of employed persons in October 2013 has increased with 1450 more people compared to 2011 (2.3%). The total working population is about 63.400 people. Especially the increase in the number of working men has contributed to this. In addition, it appears from the AKO that an increased number of people in the ages of 55 and older are working.
• The youth unemployment rate in October 2013 is 37.2 percent (2633 persons). In 2011 it was 24.7 per cent (1418 people). Especially the number of young people seeking work has increased drastically. Part of this involves school drop outs.
• The number of women seeking jobs has gone up sharply in 2013, from 4001 persons in 2011 to 5841 people in 2013 (46 %).
• The population aged 15 years and older has increased between October 2011 and October 2013 with about 3,000 people. The result of the Labour Force Survey shows that this increase has benefited the workforce completely.
• The labor force increased by 6.2 percent to a level of about 73.000 people. Labor force: workers and job seekers together, also called the economically active population.
• The overall participation rate rose to 48.4 percent, and thus is 1.9 percentage points higher than in 2011 (46.5 %). The employment rate of the population aged 15 and over increased from 57.9 in 2011 to 59.5 percent in 2013. Participation rate is the proportion of the labor force to the total population and is a measure of participation in economic life.
On the homepage of the CBS website (www.cbs.cw) you can download the complete publication of the first results of the AKO 2013.
CBS would like to thank all those households which contributed to the success of this research.