T&T's unemployment rate increased marginally in the final two quarters of 2013 from 3.7 per cent to 3.8 per cent.The latest Labour Force Bulletin from the Central Statistical Office (CSO), also shows that while the unemployment rate among men increased from 3 per cent to 3.4 per cent, it decreased for women from 4.7 per cent to 4.3 per cent over the same period.
In 2012, the data showed a decrease in unemployment rate from 4.7 per cent to 3.8 per cent, with the male unemployment rate decreasing from 3.9 per cent to 3.4 per cent and the female unemployment rate decreased from 5.8 per cent to 4.3 per cent.The CSO data show that the labour force registered 653,500 people at the end of the fourth quarter of 2013–an increase of 5,300 or 0.8 per cent over the third quarter 2013.
The report states: "From a gender perspective, this increase in the labour force was reflected among males which grew by 5,800 or 1.5 per cent. However, females decreased by 500 or 0.02 per cent when compared with the previous quarter."The overall labour force participation rate increased from 61.1 per cent in third quarter 2013 to 61.6 per cent in the fourth quarter. It increased to 72.3 per cent for men, while females decreased to 50.9 per cent.
Compared with the corresponding quarter of 2012, the overall labour force participation rate decreased from 61.8 per cent to 61.6 per cent.There was an increase of 4,600 or 0.7 per cent in the number of people with jobs, with the number of employed males increasing by 4,100 or 1.1 per cent while the number of employed females increased by 500 or 0.2 per cent.
An analysis of people with jobs by industry showed increases in community, social and personal services by 4,800 or 2.4 per cent, while financing, insurance, real estate and business services increased by 3,600 or 6.6 per cent.
Other agriculture, forestry, hunting and fishing went up by 2,900 or 13.2 per cent. However, decreases were seen in petroleum and gas, including production, refining and service of 4,600 or 19.6 per cent and wholesale and retail trade, restaurants and hotels declined by 2,800 or 2.4 per cent.