2015 VI Labor Force Estimates


Employment Situation: February 2015 [Historical Data]

The month of February 2015 unemployment rate decreased to 11.8 percent.   Signals indicate that there was an increase in jobs being added in the field of Government, Trade, Transportation and utilities as well as leisure and hospitality; also factoring new jobs, as well as changes in the seasonality of our job market. The St. Thomas/John district, unemployment rate slightly decreased to 10.6 percent, down (-0.1) based on the lowered number of unemployed and an increase by 192 from last month. The total employment count for February was in at (+ 165). St. Croix’s unemployment rate decreased by (-0.3) percent from January to 13.3 percent.

Over the year data, for the month of February indicates a minor decrease of -4.6 percent in the labor force count of 48,641 as compared to 50,976 in February 2014. This decline continues to show individuals disperse from the labor market, based on the decline in job demand compared to supply over the period. The employment count in St. Croix was increased by -1,635 which marked a -7.8 percent change from 21,072 in February 2014, to 19,437 in the current period. This change was a 77 749 increase in the unemployed count of 2,986 for February 2015. The St. Thomas/John area employment slightly decreased by -7.8 to 23,447 compared to 25,419 in February of 2014. The unemployment count in this district increased by (+23.3) percent or 523 and ended at 2,771 in February 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.
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Nonfarm Wage and Salary Employment: February 2015 [Employment Statistics]

Based on a monthly survey of Virgin Islands business establishments, nonfarm payroll employment rose by 192 to 37,922 in February. The improvement from January reflected job gains mainly in the public sector of the economy.

Government expanded by 170 to 10,731. Most of the growth was reported by the University of the Virgin Islands as regular spring session resumed. The only major industry in the private sector showing any hiring strength over the month was trade, transportation, and utilities (+29). Offsetting industry that showed a slight decrease was information (-21). Employment in other major industries, including construction, manufacturing, education and health services, financial activities, professional and business services, leisure and hospitality, and other services, showed little or no change in February.

In comparison with February 2014, nonfarm payroll employment decreased by 428. Heaviest reductions were in trade, transportation, and utilities (-214), other services (-192) and government (-160). Smaller losses were also reported in leisure and hospitality (-92), financial activities (-31) and manufacturing (-22). Only construction (+212) and professional and business services (+58) advanced from a year ago.
 
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.