Supply side of the Labour Market Curaçao: results of the Labour Force Survey 2014-2015
Summary of the Supply side of the Labour Market Curaçao : Labour Force Survey 2014-2015
Between October 2014 and October 2015, the population of Curaçao aged 15 years and older increased with 1,969 persons. The results of the Labour Force Survey in 2014 and 2015 shows that this increase in the population relates to the labour force. The labour force encompasses the employed and the unemployed (non-institutionalized) population aged 15 years and older.
In 2014, the labour force of Curaçao consisted of 67,850 persons and increased with 2,171 persons, reaching a total of 70,021 persons in 2015. This is an increase of 3.2%. The size of the employed population increased from 59,295 persons in 2014 to 61,823 persons in 2015, while the size of the unemployed population decreased from 8,555 persons in 2014 to 8,198 persons in 2015. Accordingly, the unemployment rate decreased slightly from 12.6% in 2014 to 11.7% in 2015. The increase in the labour force and the decrease in the unemployment rate were visible in both sexes.
In 2014, 54.8% of the working-age population in Curaçao was available to supply labour (labour force participation rate), while in 2015 this figure was 55.7%.
In terms of age, the increase in the labour force was (with the exception of the age group 35–44 years) visible in all age groups. The largest percentage increase in the labour force took place in the age group 15–24 years and this increase was mainly due to an increase in the employed population in this age group. Nevertheless, the youth (15–24 years) continues to have the highest unemployment rate in 2014 and 2015 (youth unemployment rate), being 33.2% and 29.7% respectively. On the other hand, it should be mentioned that this age group showed also the largest percentage decrease in the unemployment rate between 2014 and 2015.
Of the employed population, the majority worked in 2014 and in 2015 as an employee in permanent service, 62.5% and 62.1% respectively. The most reported occupation among men was ‘craft and related trades workers’ (19.7% in 2014 and 18.7% in 2015) and among women ‘service and sales workers’ (23.9% in 2014 and 23.9% in 2015). The majority of the employed persons worked in the sectors: ‘wholesale and retail trade, repair of motor vehicles and motorcycles’, ‘human health and social work activities’, and ‘accommodation and food service activities’.
Of the unemployed population, the majority of the persons who were actively looking for a job in 2014 and in 2015 has been unemployed between 1 and 12 months, 43.8% and 50.2% respectively. But also a high proportion has been unemployed for a year or longer, 38.5% in 2014 and 44.5% in 2015.
The economically not active population consisted mainly of pensioners and students who wanted to finish their school before moving into the supply side of the labour force.