2015 VI Labor Force Estimates


Employment Situation: August 2016 [Historical Data]

August 2016 unemployment rate showed an increase of 11.3 percent compared to 9.9 percent from the previous month. Signals indicate that there was a decrease in jobs, in the fields of Government, financial activities, construction, trade, transport, and utilities. St. Thomas/ John district unemployment rate increased to 11.1 percent, up (+1.5) based on the lowered number of unemployed from last month. St. Croix’s unemployment rate increased to 11.5 percent from July of 2016.
 
Over the year data, for the month of August indicates a decrease of (-4.9) percent in the labor force count of 48,031 as compared to 50,495 in August 2015. This decline continues to show individuals dispersed from the labor market, based on the decline in job demand compared to supply over the period. The employment count in St. Croix was decreased by (-550) which marked a (-2.8) percent change from 19,864 in August 2015, to 19,314 in the current period. This change was a (-1,485) decrease in the unemployed count of 2,509 for August 2016. The St. Thomas/John area employment decreased at (-2.8) to 23,297 compared to 23,961 in August of 2015. The unemployment count in this district increased by (-8.8) percent or (+235) and ended at 2,911 in August 2015. The labor market continues to ride the waves of a volatile employment cycle, which to a large degree is influenced by global economic trends coupled with factors affecting the demand for labor.
                                                                                                                                                                                                                                                         
                                                                                                                                                                                                                                                                       

Nonfarm Wage and Salary Employment: August 2016 [Employment Statistics]

Total nonfarm payroll employment in the Virgin Islands decreased by 454 over July to a level of 37,689. August declines reflected cutbacks in both the public and private sectors of the economy.

Government fell by 370 over the month, due to the phasing out of summer work programs. Within the private sector, financial activities decreased by 28. Construction also reduced its job count by 18, and trade, transportation, and utilities dropped 16. Employment in other major industries, including professional and business services, education and health services, other services, manufacturing, information, and leisure and hospitality, showed little change over the month.

Compared to the same period last year, nonfarm payroll employment rose by 291 or 0.8 percent. Service-providing sector employment moved up by 312 in the twelve-month evaluation. Gains in trade, transportation, and utilities (+171), government (+98), other services (+91) and leisure and hospitality (+37) outweighed declines in information (-45), financial activities (-35) and professional and business services (-17). On the goods producing side, the job count fell by 21. A decrease in construction (-65) offset an increase in manufacturing (+44).

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Note: Employment includes non agricultural wage and salary employment. Data has not been benchmarked. Labor force is comprised of persons 16 and older who show up in our unemployment insurance wage data working full time or part time and actively seeking employment through VIDOL. This data set is not comparable with labor force estimates developed as part of the national cooperative program. Virgin Islands estimates reflect the use of prescribed BLS methodology but are not adjusted to an independent estimate provided through the CPS (Current Population Survey).
Source: Virgin Islands Department of Labor unemployment insurance claims data and the current employment statistics monthly survey of establishments.
Prepared by: VIDOL Bureau of Labor Statistics.

 


 
 
 
 

 
 
 
 
 
 
 

Labor Force Estimates (Unadjusted) provides a comprehensive body of data on the: labor force, employment, unemployment. This data is produced on a monthly basis. The labor force is comprised of persons 16 and older who show up in our unemployment insurance wage data working full time or part time and actively seeking employment through VIDOL. This data set is not comparable with labor force estimates developed as part of the national cooperative program. Virgin Islands estimates reflect the use of prescribed BLS methodology but are not adjusted to an independent estimate provided through the CPS (Current Population Survey).Source: Virgin Islands Department of Labor unemployment insurance claims data and the current employment statistics monthly survey of establishments.