2015 VI Labor Force Estimates


Employment Situation: March 2016 [Historical Data]

March 2016 unemployment rate showed a slight decrease to 11.2 percent compared to 11.3 from the previous month. Signals indicate that there was an increase in jobs being added in the fields of trade, transport, and utilities, retail trade, professional and business services.  St. Thomas/ John district, unemployment rate decreased to 11.2 percent, down (-0.1) based on the lowered number of unemployed from last month. St. Croix’s unemployment rate has increased to 11.2 percent from February of 2016.
 
Over the year data, for the month of March indicates a decrease of (-5.4) percent in the labor force count of 48,131 as compared to 50,869 in March 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 (-1,626) which marked a (-7.7) percent change from 20,990 in March 2015, to 19,364 in the current period. This change was a (+117) increase in the unemployed count of 2,490 for March 2016. The St. Thomas/John area employment decreased at (-7.7) to 23,358 compared to 25,319 in March of 2015. The unemployment count in this district increased by (+33.5) percent or (+732) and ended at 2,919 in March 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: March 2016 [Employment Statistics]

Total nonfarm payroll employment in the Virgin Islands rose by 54 to 37,788 in March. Job gains were only in the private sector of the economy.

Within the private sector, trade, transportation, and utilities posted an increase of 41 jobs, as more hirings were registered primarily in retail trade. Professional and business services also displayed an improvement (+34) and employment in financial activities moved up slightly (+16). Providing some offset to the monthly increase, leisure and hospitality and construction decreased by 31 and 20 respectively. Employment in other major industries, including education and health services, manufacturing, other services, government, and information, showed little or no change over the month.

Annually, nonfarm payroll employment receded by 634 or 1.7 percent. Trade, transportation, and utilities was down by 255. Leisure and hospitality lost 213 jobs. Construction workforce was reduced by 97. In addition, information (-88) and financial activities (-59) further contributed to the decrease in employment. Only professional and business services (+44) and other services (+40) 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.