Macroeconomic Forecast Barbados

BMI View: Barbados' unemployment rate increased to 10.5% in Q309 from 9.9% in the second quarter, reflecting our view that the labour market will continue to suffer from the country's economic downturn for some time. While we expect conditions to improve during the course of 2010 as tourist numbers pick up on the back of the ongoing recovery in the US and Europe, we nonetheless believe unemployment levels will remain above historic levels for some time. As such, we are forecasting a jobless rate of 10.0% in 2010, falling to 9.2% in 2011.

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