By Natario McKenzie
Tribune Business Reporter
nmckenzie@tribunemedia.net
Opposition Labour spokesman Senator Fred Mitchell has warned of a ripple effect from the Government's spending cuts, arguing that the near two per cent drop in the unemployment rate was proof that the Christie administration had left the country in "good shape to grow and prosper".
Mr Mitchell, in response to the preliminary results of the Department of Statistics' latest Labour Force Survey, said that under the Christie administration, "unemployment was trending downwards, employment was trending upwards. Under the PLP, the deficit was trending downwards, the revenue was up, reforms were underway, the financial services, immigration, health care, tourism and public service sectors were being reformed, and the country was headed in the right direction."
The Labour force survey, conducted between April 24th and April 30th, reports the country's unemployment rate at 9.9 per cent - a 1.7 per cent decrease from the results of October's survey. The decline came as 7,770 people gained employment while there was a decrease of 3,485 unemployed people. According to the survey, the unemployment rate in New Providence was 10.4 per cent; in Grand Bahama it was 12.4 per cent and in Abaco it was 7.8 per cent.
Mr Mitchell argued that the Minnis administration has have cut back spending in the economy and have decided to halt hiring in the public service, at a critical time when the country was poised for growth. "The Government is the largest spender in this economy. When they cut back and fire, the whole country trembles and the private sector follows. Consumer spending is contracted and revenues begin to drop. Investors lose confidence in the economy, when the Government preaches doom and gloom as the FNM is doing."
He added: "The FNM, through its current policies, is damaging the reputation of the country, talking down the economy and threatening investor confidence. It is unable to stop campaigning and start governing."
"The latest employment numbers show that between May 2012 and May 2017 under the PLP administration, 39,505 jobs were added to the national economy with 7,770 added in the last six months of the PLP's term in office. This is the largest jobs expansion by any government administration in any five-year term. Regardless of what is said about the PLP government, those are the objective numbers and the unvarnished facts," said Mr Mitchell.
Comments
The_Oracle 6 years, 8 months ago
The Governments job is not to "add Employment" other than by facilitating the private sector. The Private sector creates wealth, Governments re-allocate wealth. The PLP philosophy of job handouts and political loyalty can only create a fiefdom, which will degenerate into a dictatorship. Rule by personality, rule by favor. The Civil service is but a burden, but in some regards a necessary and lawful one. Defense from without, protection within, the courts for dispute resolution, Governance. All else is overblown, inefficient, wasteful and justifies further taxation. I cannot believe you are an idiot, therefore, must assume you have designs on a fiefdom.
Economist 6 years, 8 months ago
Statements by the Government about the economy are helping the country.
Most economists and business persons, both in The Bahamas and outside The Bahamas, always knew that the economy was in very bad shape and that the PLP government could not be trusted to tell the truth.
The honesty of the new Government is giving honest business persons confidence that they can do business with an idea of growing it rather than shutting it down and getting out of the country with what they could get out.
The charging of ex politicians is also having a positive effect as it is showing that we are trying to clean the Country up.
Greentea 6 years, 8 months ago
This kind of logic in our elected leaders is the reason we are in the situation we are in. These seem intelligent- but are severely limited in their thinking and capabilities. Plain idiots. depressing.
OldFort2012 6 years, 8 months ago
No, my friend. It is far worse. The politicians don't believe a word they are saying. But they know how stupid their constituents are, so they give them what they want to hear. Our problem is not stupid politicians, it is stupid constituents. That is what you get with education standards at all time lows for decades. If our constituents were clever, we would soon get rid of stupid politicians. But no, the PLP has been with us and prospered for 50 years and they will prosper for another 500. As we get stupider, they become stronger. They are our brightest future.
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