Thursday, May 13, 2010

TREASURY MINISTER REFLECTS ON FALLING UNEMPLOYMENT

Treasury Minister Anne Craine has welcomed the continuing fall in unemployment recorded in the latest Labour Market Report issued by Treasury’s Economic Affairs Division. The end of April count saw the number of people registered as unemployed and claiming benefit as 867, equivalent to 2% of the Island’s economically active population.

“The figures are particularly pleasing not just because it is a reflection of how solidly the economy is performing, but also because falling unemployment helps contain total welfare support costs, at a time when the public finances are under some strain”, said the Minister. “Undoubtedly seasonal factors are now coming into play, helping to reduce unemployment in sectors such as construction and hospitality”, the Minister recognised, “but it is significant that the numbers on the register are down not just on a month by month basis but also in comparison with a year ago, reflecting just how resilient the Island’s economy has been in the face of the global slowdown”.

Unemployment fell by 57 in April but perhaps more significantly by 58 over the last 12 months.

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