Minister touts employment growth as economic resurgence proof
Minister of State for Grand Bahama Kwasi Thompson said employment on Grand Bahama has grown year-on-year, which he explained is confirmation that economic activity on the island has increased.
In a press statement issued Saturday, Thompson explained that from May 2017 to May 2018, employment on the island has been shown to have increased by 1,805 people, and the period November 2017 to May 2018 has shown an increase of 725 people.
“While these numbers are encouraging, the unemployment rate according to the survey has remained the same as that of May 2017 at 12.4 percent,” Thompson said in the statement. “We must continue to work to reduce this number.”
According to the statement, those employment results are due to the on-boarding activities of companies like Wind River Tobacco Manufacturing Company, Carnival Ocean Medallion Project, Goombayland Go-Cart and Skating Rink, GIBC digital, Fowlco Logistics Company and Omni Financial.
Thompson added: “We also expect to see immediate employment opportunities at Quality Services Limited at the PharmaChem Expansion, Pelican Bay Renovation Project, Home Fabric opening, Eco-Oil Construction and opening, and Itelbpo expansion.
“We are very hopeful and confident in the two major projects of the Grand Lucayan and West End Skyline (Ginn) to proceed soon, which will create even more jobs and entrepreneurial opportunities for Grand Bahamians.
“We note the progress and we are keenly aware that a lot more work is required in Grand Bahama. We will continue to work even harder until our people experience the relief and economic improvement needed.”
Grand Bahama-based telecommunications company Itelbpo plans to expand with the hiring of an additional 100 Bahamians.
The move is being heralded by government as proof that the island is on the right track for an economic resurgence.
- BPL records 16% declinein customer payments - July 9, 2020
- Auditor general concerned inmates’ accounts could be used for illegal activity - July 9, 2020
- Build locally-owned correspondent bank inNorth America, urges Bowe - July 8, 2020