VIeWS

 

Virgin Islands Unemployment Rates

2014 VI Labor Force Estimates


Employment Situation: July 2014 [Historical Data]

The unemployment rate slightly decreased at 13.0 percent for the month of July 2014. The unemployment rate was affected, based on the fact that there was a small growth factor in jobs and unemployment initial claims remaining relatively flat, as compared to the prior period filings. In the St. Thomas/John district, unemployment rates decreased to 11.6 percent, down -0.3 based on the lowered number of unemployed and an increase by 56 from the previous month, where the total employment count for July was at 45. St. Croix’s unemployment rate remained relatively flat at 14.6 percent.

Over the year data, for the month of July indicates a minor decrease of -8.0 percent in the labor force count of 46,793 in comparison to 50,840 in July 2013. This decline continues to show individuals scattering from the labor market, based on the decline in job demand in comparison to supply over the period. The employment count in St. Croix was reduced by -1558 which marked a -7.8 percent change from 20,009 in July 2013, to 18,451 of the current period. This change indicated a -619 decrease for the unemployed count of 3,160 for July 2014. The St. Thomas/John area employment was also decreased by -7.8 to 22,257 compared to 24,137 in July of 2014. The unemployment count in this district increased by 0.3 percent and ended at 2,925 in July 2013.             

                                                                                                                                                                                                                                                                                                  
 

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

Based on a monthly survey of business establishments, nonfarm payroll employment edged up by 45 to 38,214 in July. Seasonal gains in government (+267), due primarily to summer programs, were partially counterbalanced by job cuts in the private sector.

Over the month, labor demand in private industries receded by 222 to 27,178. Education and health services led the declines with a loss of 116 jobs, most of which were in private schools. Trade, transportation, and utilities posted the next largest drop (-84), reflecting fewer transit workers on St. Croix and reduced staffing in tourist-oriented businesses. In addition, leisure and hospitality scaled down by 38. Offsetting industries that showed a slight increase were information (+20) and financial activities (+14). Employment in other major industries, including other services, professional and business services, construction, and manufacturing, changed little over the month.

Nonfarm payroll employment fell by 133 jobs over the 12-month comparison period. Gains in leisure and hospitality (+171), professional and business services (+31), trade, transportation, and utilities (+31), and manufacturing (+21) were not sufficient to compensate for job losses in remaining industries of the Virgin Islands labor market.
 
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.