Finance Minister Camilo Gonsalves says NIS data shows that formal employment continues to grow in Saint Vincent and the Grenadines, stating that there have never been more active employees on the NIS rolls at any point in the islands recorded recorded history.
“Employment has surpassed pre-pandemic highs, and there are 13,000 more Vincentians working in the formal sector than when we took office. Average insurable wages are also at an all-time high, and at $25,844, they are 9.5 percent higher than pre-pandemic levels.”.
Gonsalves said the average insurable wages of workers in the accommodation, agriculture, education, health, and domestic worker sectors have all more than doubled since 2001.
“This year, in addition to the 92 posts created in Budget 2024, a survey of a subset of major private sector employers has indicated that the hospitality, call centre, restaurant, and IT sectors alone will create at least 1,400 jobs this year.”.
‘While major contractors have also indicated an intent to hire more workers, this would have to be offset against the winding down of construction activity at Sandals Buccament Bay, where 472 Vincentians are currently employed. As such, it is difficult to project net gains in the construction sector at the time.”.
Gonsalves says it is clear that, barring a disaster, 2024 will be another year of opportunity, job creation, and mobility in Saint Vincent and the Grenadines.
