Unemployment rate decreases to 8.1%

The Bahamas’ unemployment rate fell to 8.1 per cent in the first quarter of 2026, according to the latest Labour Force Survey released by the Bahamas National Statistical Institute.

The rate declined by 0.6 percentage points from 8.7 per cent in the fourth quarter of 2025, as the number of unemployed people fell by more than 1,200.

The labour force stood at 249,025 people during the first quarter, an increase of 1,535 compared with the previous quarter. The number of unemployed persons was estimated at 20,240, down from 21,465 in the fourth quarter.

Employment also increased, with 2,760 more people employed during the quarter.

Young people also saw an improvement in employment conditions. Youth unemployment declined to 14.2 per cent in the first quarter, compared with 18.2 per cent in the previous quarter.

Despite the overall decline in unemployment, women continued to record higher unemployment rates than men nationally and across most regions. Abaco was the only island where the female unemployment rate, at 8 per cent, was lower than the male rate of 9.3 per cent.

Private-sector employees accounted for the largest share of employed people, representing 58 per cent, or 133,490 workers. Government and quasi-government employees accounted for another 21 per cent, or 48,170 workers.

The institute also reported a decline in the number of discouraged workers compared with the fourth quarter of 2025.

Community, Social and Personal Services remained the largest industry, employing 86,305 people.

However, the Hotel and Restaurant industry recorded the largest increase in employment during the quarter, adding 2,020 workers to reach 43,765 employees.

The Mining, Quarrying, Electricity, Gas and Water industry recorded the second-largest increase, with employment rising by 1,365 people compared with the previous quarter.

The latest figures point to continued growth in employment during the first three months of the year, alongside a decline in both the overall and youth unemployment rates.