According to Planning and Development Minister, Camille Robinson-Regis, more people in TT are now working for themselves.
In a press release today, the minister said this was a very positive indicator for the economy, as more people were beginning to embrace their entrepreneurial spirit and launch their own small and medium businesses.
“The latest figures from the Central Statistical Office (CSO) Labour Force Bulletin, for the third quarter of 2016 indicated that in comparing the previous quarter to this year, the major increase in persons with jobs by Type of worker was seen in ‘Own account worker’ by 9,100 or 8.5 per cent.”
Robinson-Regis said the figures released by the CSO, also pointed to a marginal decrease in the unemployment rate from 4.4 per cent to 4.0 per cent for the period under review.
She said the data reflected a decrease of 3,000 or 10.5 per cent in the number of unemployed people in TT between second and third quarter in 2016.
“Unemployed males decreased by 600 or 3.9 per cent while unemployed females decreased by 2,400 or 18.3 per cent. From a gender perspective, the unemployment rate among males decreased from 4.1 per cent to 4.0 per cent.”
Additionally, she said females decreased from 4.9 per cent to 4.0 during the same period.
“In comparison to the previous quarter, an analysis of persons with jobs by Industry revealed that those employed in the ‘Wholesale and retail trade, restaurants and hotels’ increased by 13,100 or 12.7per cent, while in the ‘Construction’ sector, the increase was 8,800 or 10.0 per cent.”