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Barbados Unemployment Rate

Barbados' unemployment rate decreased to 7.1% in Q3 2024 from 7.7% in Q2 2024. This improvement reflects strong economic growth across manufacturing, education, business services, tourism, construction and retail trade. Heightened demand in service industries and tourism recovery drove positive employment trends. Barbados' record low unemployment rate was 6.9% in Q1 2024 and record high was 17.9% in Q3 2020.

Quarterly Historical Data (2014-2024)

(in %)
Quarter Unemployment Rate
Q3 2024 7.1%
Q2 2024 7.7%
Q1 2024 6.9%
Q4 2023 8.2%
Q3 2023 8.3%
Q2 2023 8.5%
Q1 2023 8.9%
Q4 2022 7.2%
Q3 2022 7.1%
Q2 2022 9.3%
Q1 2022 9%
Q4 2021 10.9%
Q3 2021 12.4%
Q2 2021 15.9%
Q1 2021 17.2%
Q4 2020 13.6%
Q3 2020 17.9%
Q4 2019 8.9%
Q3 2019 9.5%
Q2 2019 10.1%
Q1 2019 11.9%
Q4 2018 11.6%
Q3 2018 10.7%
Q2 2018 8.2%
Q1 2018 9.7%
Q4 2017 8.2%
Q3 2017 10.8%
Q2 2017 11.4%
Q1 2017 9.4%
Q4 2016 9%
Q3 2016 10.2%
Q2 2016 10.1%
Q1 2016 9.3%
Q4 2015 10.2%
Q3 2015 11.3%
Q2 2015 11.9%
Q1 2015 11.8%
Q4 2014 11.5%
Barbados Unemployment Rate : Definition
The Barbados unemployment rate represents the share of the nation's labour force actively seeking employment but unable to find work. It is calculated by dividing the count of unemployed individuals by the total labour force size which includes both employed and unemployed persons, then expressing this ratio as a percentage. Data is compiled by the Barbados Statistical Service.
Indicator Last Value Prior Value Period
Annual Unemployment Rate 7.53% 7.88% 2024
Female Labor Force Rate 59.73% 60.12% 2024