Unemployment still a major issue

THE rise in unemployment figures, which first started in 2008, continues to be a major issue not just for those of us here in Barbados, but around the world as well.

 

This is coming from Minister of Labour, Social Security and Human Resource Development, Senator Dr. Esther Byer-Suckoo, who delivered welcome remarks at the ‘Breakfast Meeting to Discuss the Draft National Human Resource Development Policy for Barbados’ yesterday at the Radisson Aquatica.

 

She said that many persons may think that 2008 is a long time ago, but what they fail to realise is that all nations around the world are still feeling the negative influences of this time period.

 

“Since 2008, the world has seen an increase in unemployment. Now some don’t like it when we talk about ‘since 2008’. They say that ‘well, hey, 2008 was a long time ago’. But the truth is the world has changed a lot since 2008 and economies – great and small – are still trying to recover from the effects of 2008.”

 

The Minister of Human Resource Development said that this extends to the bigger countries as well and likened the global economic crisis to Chikungunya.

 

“Even some of the bigger countries, I liken it to the folks with the Chikungunya or even the dengue, you know, they think that they have recovered, they get up and they are ready to go and they look like they are strong and they are down again, and that is what we are seeing in economies across the world. So you can imagine how small, open, vulnerable economies like ours are faring.”

 

Byer-Suckoo noted that while the figures for unemployment among the general population are huge, the scenario is even worse for the young people who tend to suffer from unemployment at even higher rates.

 

“Unemployment is high across the world and the youth unemployment figures are even higher. In fact, I would tell you that if you look at any country, you would see their unemployment rates for the general population. If you want youth unemployment, just multiply that figure by 2.5 or 3.0 and you have a fairly good idea of what youth unemployment is. So if you are looking at a 10 per cent unemployment, you can be pretty sure that youth unemployment is somewhere between 25 and 30 per cent and indeed that is what we are seeing on average across the globe – 30 per cent youth unemployment.”