Nevis Economy Shows Positive Trends in Job Creation and Average Wages
January to June 2024 Employment Report
According to the Social Security employment report for January to June 2024, Nevis is experiencing positive trends in job creation, the number of employed individuals, and average wages.
Premier’s Remarks
Premier Honourable Mark Brantley, who also serves as the Minister of Finance, remarked on the promising progress.
“The Nevis economy is moving in the right direction with increases in the number of jobs, the number of employed persons, and the level of wages being paid. We must stay focused as we continue to deliver for all who call Nevis home.”
Key Findings
- Average number of employees: Increased by 1.0%, rising from an average of 5,720 employees per month in 2023 to 5,775 in 2024
- Average number of jobs: Rose by 1.2% monthly, increasing from 6,179 in 2023 to 6,253 in 2024
- Average gross monthly wages: Increased by 5.3%, totaling $23.37 million per month in 2024, up from $22.20 million in 2023
- Average wages per employee: Grew by 4.3%, reaching $4,047 per month, compared to $3,881 in 2023
- Average wages per job: Increased by 4.0%, from $3,593 in 2023 to $3,737 in 2024.
Conclusion
These figures reflect a robust trajectory for the Nevis economy and align with the NIA’s fiscal performance goals. Premier Brantley highlighted the NIA’s ongoing commitment to responsible fiscal management and economic growth, with revenue for the first half of 2024 surpassing 2023 levels by 10.6%.
Frequently Asked Questions
Q: What are the key findings of the employment report for January to June 2024?
A: The report shows positive trends in job creation, the number of employed individuals, and average wages, including a 1.0% increase in average number of employees, a 1.2% rise in average number of jobs, and a 5.3% increase in average gross monthly wages.
Q: What does Premier Brantley think about the economic performance of Nevis?
A: Premier Brantley is optimistic about the direction of the Nevis economy, highlighting the increases in jobs, employed persons, and wages. He emphasized the importance of staying focused to deliver for all who call Nevis home.
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