2015 VI Labor Force Estimates


Employment Situation: March 2015 [Historical Data]

The month of March 2015 unemployment rate remain relatively constant at 11.8 percent.   Signals indicate that there was minimum fluctuation 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 10.4 percent, down (-0.2) based on the lowered number of unemployed and increased by (1) from last month. The total employment count for March was in at (+ 3). St. Croix’s unemployment rate decreased by (0.1) percent from February to 13.4 percent.

Over the year data, for the month of March indicates a minor decrease of -4.4 percent in the labor force count of 48,636 as compared to 50,869 in March 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 -1,551 which marked a -7.4 percent change from 20,990 in March 2014, to 19,439 in the current period. This change was a 77 647 decrease in the unemployed count of 3,020 for March 2015. The St. Thomas/John area employment slightly decreased by -7.4 to 23,448 compared to 25,319 in March of 2014. The unemployment count in this district increased by (+24.8) percent or 542 and ended at 2,729 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 2015 [Employment Statistics]

Total nonfarm payroll employment in the Virgin Islands remained flat from February to March. A modest increase of 56 in government due to a short-term project at the University of the Virgin Islands, was offset by job cuts in the private sector.

Over the month, labor demand in private industries receded by 55 to 27,138. Trade, transportation, and utilities led the declines with a loss of 34 jobs. Smaller decreases to payrolls were reported in education and health services (-12) and professional and business services (-11). Employment in other major industries, including leisure and hospitality, construction, other services, financial activities, manufacturing, and information, showed little or no change over the month.

Annually, nonfarm payroll employment receded by 481 or 1.3 percent. All major industry divisions except construction (+234) and professional and business services (+77) were operating at lower employment levels. Trade, transportation, and utilities (-252), other services (-204) and government (-150) were the hardest hit over the year. Leisure and hospitality (-84), financial activities (-40) and manufacturing (-37) also added to the total job loss.
 
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.