Results of the Labour Force Survey for 2017

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Results of the Labour Force Survey for 2017

The increase of the unemployment rate is highest under the 25-34 year old group.

In the month of Septmber 2017, the Central Bureau of Statistics (CBS) conducted the Labour Force Survey (LFS) on Curaçao. The LFS is an annual household survey that is held annually in September/October since 1987 to measure the recent trends on the local labour market, such as the unemployment rate, the participation level, the number of the employed population and those looking for employment.

In 2016 and 2017 the labour market has experienced certain developments which have impacted the employment rate negatively. Two examples of these developments are the layoffs of the Marriott Hotel and the Inselair employees. This we now see reflected in the increase of the unemployment rate.

In September 2016 the unemployment rate was 13.3. This year this number increased with 0.7 percentage points to 14.1. The unemployment rate has increased with nearly two points since 2014.

The labour market consists of employed and unemployed people. This year, the group consisting of employed people decreased with more than 2,000 people: 62,834 in 2017 compared to 65,118 in 2016. The group of unemployed people increased with 360 people; from 9,953 in 2016 to 10,313 persons in 2017.

The decrease of the employees and the increase in unemployed is the reason for the increase in unemployment rate.

The youth unemployment rate (15-24 year old) has decreased with 4 points from 36.8 in 2016 to 32.8 in 2017. The biggest increase is in the category of 25-34 year olds. The unemployment in this group has increased with 4.1 percentage points; from 14.7 (2016) to 18.8 percentage in  2017.

15-24

25-34

35-44

45-54

55-64

65+

2016

36.8

14.7

11

10.4

7

7

2017

    32.8

    18.8

    11.5

    11.5

       9.2

       5.0

Difference

       (-4.00)

         4.10

         0.50

         1.10

         2.20

       (2.00)

CBS would like to thank all the households who participated and contributed to a successful survey.

You can stay up to date on all the ongoing CBS surveys and the results on the front page of the CBS website (www.cbs.cw), including the results for the Labour Force Survey 2017.