Use the latest browser recommended by Microsoft
Get speed, security and privacy with Microsoft Edge
The Barbados labour market showed notable resilience and improvement in the first half of 2024 compared to the first half of 2023, reflecting the country’s ongoing economic expansion. Employment increased, with the employment rate moving from 91.5 percent in the second quarter of 2023 to 92.3 percent in the second quarter of 2024. The overall unemployment rate, which dropped from 8.5 percent in the second quarter of 2023 to 7.7 percent in the second quarter of 2024, complemented this rise. The labour force participation rate, after a slight decrease at the start of 2024, edged up to 63.5 percent by the second quarter of 2024, indicating a renewed workforce engagement and recovery across sectors.
Sector-specific trends reveal a concentration of growth within the accommodation & food services and wholesale & retail trade sectors, driven by the resurgence of the tourism industry and consumer activity. The accommodation & food services sector saw employment increase significantly from 12,100 in the first quarter of 2023 to a peak of 16,200 in the first quarter of 2024, though it slightly eased to 15,100 by the second quarter of 2024. Retail trade, a key contributor to consumer-driven economic activity, held steady in 2024 after significant growth in 2023, maintaining employment levels at around 19,500.
In contrast, the construction, mining & quarrying sector, which was stable through 2023, experienced minor fluctuations, peaking at 10,900 in the first quarter of 2024 before a slight reduction to 9,700 in the second quarter of 2024. This dip reflects adjustments following initial growth phases. Public administration & defence exhibited a temporary drop at the beginning of 2024, then rebounded to 13,300 in the second quarter.
Youth unemployment also saw an improvement, decreasing from 22.1 percent over the first half of 2023 to 19.5 percent over the corresponding period of 2024. This trend reflects enhanced opportunities for young job seekers, possibly due to expanding job opportunities in sectors like retail and hospitality that typically absorb younger workers.
Trends In the first half of 2024, Barbados’ labour market showed notable differences in male and female employment and unemployment patterns, compared to the same period a year earlier. Male employment levels remained steady, with significant participation in sectors like construction and transportation, which tend to be male-dominated. Female employment, however, saw marked growth, particularly in the accommodation, food services, and retail sectors. This increase was driven by a recovery in tourism and heightened demand across service industries. The unemployment rate for males remained stable, reflecting resilience within traditional male-oriented sectors. In contrast, female unemployment showed a significant decrease, moving from an average of 9.8 percent in the first half of 2023 to an average of 6.8 percent for the first half of 2024, reflecting expanded opportunities for women in retail, tourism, and professional services. Sectoral trends reveal that women benefited most from growth in the service industry, while male employment held strong in technical and skilled trades, such as construction.
Overall, the first half of 2024 marked a positive phase for Barbados’ labour market, characterised by declining unemployment, steady sectoral growth, and improved youth and gender-specific employment rates. Women benefited significantly from the growth in service-oriented sectors, while men maintained steady employment in construction and technical fields. The reduction in female unemployment highlights strides in economic inclusion, suggesting that policy efforts to support gender equity in the workforce are yielding positive results. Sustaining these gains will depend on continued efforts to diversify employment opportunities and strengthen workforce participation, especially within emerging sectors poised to support long-term economic resilience.