Source: World Bank
Saint Vincent and the Grenadines: The unemployment rate
For that indicator, we provide data for Saint Vincent and the Grenadines from 1991 to 2019. The average value for Saint Vincent and the Grenadines during that period was 19.91 percent with a minimum of 18.79 percent in 2008 and a maximum of 21.1 percent in 2001.
The latest value from 2019 is 18.88 percent. For comparison, the world average in 2019 based on 182 countries is 7.04 percent.
The unemployment rate in Saint Vincent and the Grenadines and other countries is defined as the number of unemployed people as percent of the labor force.
The labor force includes the people who are either employed or unemployed, i.e. who don’t have a job but are actively looking for one. The labor force does not include people who are not looking for work, children, and the retired.
The unemployment rate seldom declines below 4-5 percent even during boom times. There are always people who move between different sectors of the economy or between cities. When the economy goes into recession, then unemployment can reach much higher numbers, sometimes even in the double digits.
The unemployment rate seldom declines below 4-5 percent even during boom times. There are always people who move between different sectors of the economy or between cities. When the economy goes into recession, then unemployment can reach much higher numbers, sometimes even in the double digits.
Definition: Unemployment refers to the share of the labor force that is without work but available for and seeking employment.
