VIeWS

 

2014 VI Labor Force Estimates


Employment Situation: November 2014 [Historical Data]

The month of November 2014 saw a 12.8 percent decrease in the unemployment rate.   Signals indicate that there was an increase in jobs being added in the field of Accommodation and Food Services; 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 12.7 percent, down (-1.0) based on the lowered number of unemployed and an increase by 183 from last month. The total employment count for November was in at (+253). St. Croix’s unemployment rate increased by (+0.6) percent from October to 13.0 percent.

Over the year data, for the month of November indicates a minor decrease of -6.5 percent in the labor force count of 46,857 as compared to 50,127 in November 2013. 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 decreased by -1,261 which marked a -6.4 percent change from 19,795 in November 2013, to 18,513 in the current period. This change was a --------1,048 decrease in the unemployed count of 2,759 for November 2014. The St. Thomas/John area employment increased by -6.4 to 22,332 compared to 23,853 in November of 2014. The unemployment count in this district increased by (+20.8) percent or 560 and ended at 3,253 in November 2013. 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: November 2014 [Employment Statistics]

Total nonfarm payroll employment in the Virgin Islands rose in November to 38,167, an increase of 183 jobs. Stepped-up hiring in leisure and hospitality and trade, transportation, and utilities provided the major stimulant for the November increase.

Leisure and hospitality posted an increase of 252 jobs, as more hirings were registered primarily in accommodation. Trade, transportation, and utilities rose by 93 to 8,129. Retail trade provided most of the growth. Offsetting industry was other services (-158), due to plant closing. Employment in other major industries, including education and health services, information, construction, manufacturing, professional and business services, financial activities, and government, showed little change over the month.

In spite of over the month seasonal boost, nonfarm payroll jobs declined by 189 over the year to 38,167. All major industry divisions except construction (+75), government (+50), trade, transportation, and utilities (+44) and education and health services (+18) shared in the decline.
 
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.