VIeWS

 

Virgin Islands Unemployment Rates

2014 VI Labor Force Estimates


Employment Situation: June 2014 [Historical Data]

The Virgin Islands unemployment rate for the month of June 2014 stands at 13.1 percent, which reflects a marginal increase of 0.1 percent. The latter was due to a slight decrease in the growth of jobs and unemployment initial claims remaining relatively flat compared to the prior period filings.

In the St. Thomas/John district, unemployment rates increased to 11.9 percent in the month of June of this year, up by 0.2 indicating 62 persons would have been placed on the unemployment list over last month; St. Croix’s unemployment rate is at 14.6% representing increase of 0.1 percent in comparison to the month of May.

 June’s over the year data indicates a minor decrease of 8.1 percent in the labor force count of 46,715 as compared to 50,839. This decline continues to show individuals disperse from the labor market, based on the decline in job demand compared to supply over the period. Unemployment in St. Croix decreased by 1,679representing a -8.4 percent change to 18,395 in the current period. In St. Thomas/John area, unemployment rate decreased by -8.4 to 24,214 in June of 2013.
                                                                                                                                                                                                                                                                                                  
 

Nonfarm Wage and Salary Employment: June 2014 [Employment Statistics]

Total nonfarm payroll employment in the Virgin Islands declined from 38,263 to 38,176 in June. The loss of 87 jobs reflected reductions primarily in the service-providing sector of the economy.

Government recorded its third consecutive monthly loss, with a drop of 43 jobs in June. The decrease was due mainly to the semester break at the University of the Virgin Islands. Smaller cuts were reported for leisure and hospitality (-24) and information (-11). Employment in other major industries, including education and health services, other services, manufacturing, trade, transportation, and utilities, professional and business services, financial activities, and construction, showed little or no change over the month.

Compared to the same period last year, nonfarm payroll employment contracted by 718. Most island industries were operating at lower employment levels. Trade, transportation, and utilities was down by 229. Government lost 216 jobs. Other services workforce was reduced by 164 and financial activities (-60), professional and business services (-33), manufacturing (-30), education and health services (-28), and information (-26) were also down. Only leisure and hospitality (+62) posted an over-the-year advance.
 
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.