2018/19 Budget Communication 2018_2019 BUDGET COMMUNICATION | Page 67

The labour market posted improved performance
in 2017, in line with the emerging rebound in economic
growth. The key driving factors in this improvement were
the phased opening of the Baha Mar resort, hurricane-related
construction activity and a number of international cultural
events. The Department of Statistics reports that, between
November 2016 and November 2017, total employment
increased by 11,345 to a total of 203,730. This growth in
employment surpassed the 4.1 per cent expansion in the
labour force during this period, the latter reflecting both the
entry of new graduates into the labour market and a 2,000
decrease in the number of discouraged workers. As a result,
the national rate of unemployment in November last year
stood at 10.1 per cent, fully 1.5 percentage points lower than
the rate a year earlier.
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