Unemployment on Curacao virtually unchanged in the first half of 2016
WILLEMSTAD - The Central Bureau of Statistics (CBS) Curacao has held, for the first time, a Labor Force Survey (LFS) in Curaçao in the months of March / April 2016. The LFS is a yearly sample survey of households which has been carried out by the CBS since 1987 in the months of September and October with the aim to assess the latest developments in the labor market. These developments are in the area of unemployment, employment, the size of the working population and the size of the job seeking population.
However, labor market developments are not static. The size of the working and the job seeking population can, depending on several factors, increase, decrease or remain unchanged. Some examples of factors that can affect the labor market are demographic factors, the number of available jobs and development of the economy.
In addition to these factors, it is known that the job market may also fluctuate in response to seasons. In Curaçao, however, we are not dealing with seasons, but possibly with periods which may increase or decrease the demand for and supply of labor. For example, think of periods where more tourists visit the island or during holidays on the island. It is unknown whether the labor market in Curaçao fluctuates within one year. This is why an LFS was held for the first time in the first half of the year, which is in addition to the regular LFS that will be carried out in September/October this year. This in order to understand the movements in the labor market within one year. The results of the first LFS 2016 (LFS 2016-1, March / April) will be presented along with the results of the second LFS 2016 (LFS 2016-2, September / October) where an overall picture will be given from the supply side of the labor market in Curaçao for the year 2016 with any related fluctuations.
First results LFS 2016-1:
The unemployment rate compared to 2015 (11.7%) remained virtually unchanged at 11.3% of the workforce in the first half of 2016. Youth unemployment (15-24 years) has decreased compared to 2015 from 29.7% to 26.3% in the first half of 2016.