The national unemployment rate could skyrocket to 30 percent, Acting Director of Labor John Pinder predicted on Wednesday.
He said the widespread, but necessary business closures due to COVID-19 is wreaking havoc on the economy.
The unemployment rate stood at 10.7 percent in December 2019, according to the Department of Statistics.
“I appreciate the fact that there are some employers who are really taking a hit and still trying to keep Bahamians employed,” Pinder said.
“They understand the importance of this whole thing. I hope more employers do so. Maybe the government can offer some kind of concession moving forward. The government is in a catch 22 because they need the revenue.”
Pinder was a guest on Guardian Radio show, The Revolution, with host Juan McCartney.
On March 20, Prime Minister Dr. Hubert Minnis ordered that all businesses suspend operations, with limited exceptions. Since then thousands of Bahamians have been laid off.
The post Pinder predicts unemployment could climb to 30 percent appeared first on The Nassau Guardian.
source https://thenassauguardian.com/2020/04/22/pinder-predicts-unemployment-could-climb-to-30-percent/
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