St.Kitts-Nevis is listed among 5 Caribbean countries with the lowest unemployment rates. While Joblessness continues to be a major problem in the Caribbean St.Kitts-Nevis along with 4 other countries were listed among those where the Joblessness situation is at it’s lowest. The list of 5 Caribbean countriesl with the lowest unemployment is topped by Cuba with a low 2% Unemployment rate. Followed by the Cayman Islands and Trinidad and Tobago with 4% and St.Kitts-Nevis with 4.9% unemployment rate. Jamaica was number 5 with a 9.3% Unemployment rate.
The economic policies of the new Dr.Timothy Harris led Team UNITY Government Over the last two years has led to St.Kitts-Nevis recording it’s highest ever Wage Bill and Employment numbers with more person being employed than at any other time in the country’s history.
The St Kitts and Nevis Social Security Board confirmed 2016 and 2017 as the years with the highest number of Kittitians and Nevisians employed in the Federation – an achievement that goes hand in hand with the country’s growing economy.
Figures from the Board show that national employment stood at 24,539 jobs in 2016, up from 24,308 in the previous year –a record-breaker for the country.
The record breaking employment numbers are expected to continue to grow in 2018 with the commencement of a number of major capital and other projects including the construction of a 2n Cruise Pier, East Bus Terminal, Roads Rehabilitation, Old Road Bay reconstruction along with foreign investment tourism related projects such as the Ritz Carlton Hotel and the Six Senses-St.Kitts all of which which are scheduled to begin construction by September 2018.
In addition to the expected projects to begin shortly the Team UNITY Government’s emphasis on Small and Medium sized business development has resulted in ballooning employment rate and lowering unemployed numbers. Over 400 new businesses have been established within the last 3 years mainly through the government’s Fresh Start Loan initiative where loans are made available to young entrepreneurs at easy concessionary terms and conditions. This has seen an explosion of the Small Business sector in St.Kitts-Nevis. This has added significantly to the country’s employment situation. At the current upward trend of employment in St.Kitts-Nevis the country can very well eclipse Cuba as having the lowest unemployment in the Caribbean.