Minister of Finance Hon. Camillo Gonsalves said based on current employment data, as well as the overall performance of the economy, that unemployment could be less than 10 per cent.
Figures from the National Insurance Services indicated that as of the first quarter of 2025, the number of Active Insured persons including self-employed and voluntary contributors stands at 50, 131.
Minister Gonsalves said there has been tremendous growth in major sectors of the economy while at the same time, there is difficulty in finding workers for major projects currently taking place throughout the country.
” We are seeing a number of reports that employment is up in SVG, and up considerably so, the last data we have, the last firm data is from 2022, which said that unemployment was at 10. 8 per cent, but in 2022, this is prior to the opening of Sandals resorts, and the full operational functionality of Sandals resorts and before some major construction projects got underway fully, we believe now that the unemployment number would be in single digits,” Minister Gonsalves explained.
The Finance Minister said in addition to this, there is difficulty finding skilled and unskilled workers currently. He noted that on major projects such as the construction of the Acute Care Hospital, contractors have requested permission to bring in workers from neighbouring islands because there is simply not enough workers.
“The major constraint is not money, the major constraint is labour and the contractors are telling us, we cannot find enough people to do the work,” Minister Gonsalves said.