The Labour Force Survey (LFS) was conducted in September and October 2019. The Labour Force Survey is a survey aimed to measure the unemployment rate at the time of data collection. The fieldwork was initially conducted for six weeks in which a sample of 2,650 households were approached However, due to declining participation, it was extended for another two weeks in which the soft refusals and those who were not at home were re-approached.
The resulting statistic is a snapshot of the balance between the employed and unemployed (15 years and older) population on Curaçao. The LFS seeks to understand the working population and the supply side of the labour market. The information supplied by those in the sample answer the question of education and composition of the labour force.
The year 2019 was a turbulent year for Curaçao where it had to contend with many foreclosures and liquidations resulting in loss of employment. This is characterised by the numbers from the Chamber of Commerce (Figure 1) that show an increase in closures.