Financial Market Brief 10 June 2016
It is no exaggeration to say that the Bahamas is facing major economic challenges. Real or constant GDP, which measures economic growth, has contracted by 0.52% in 2014 and 1.66% in 2015. Declining and negative economic growth coupled with high unemployment and job losses in the lucrative Financial Services sector have contributed to the economic challenges that the country faces. While the country’s overall unemployment rate stands at 14.80%, youth unemployment is at an astonishingly high rate of 30.00%. At such high levels, the long-term success of the nation’s youth is restricted. There are many factors, such as low educational levels and lack of job prospects that have led to the high level of unemployment among young persons. This inability to secure quality good paying jobs is contributing to the country’s societal deficiencies and limiting the potential of upward mobility for many of the nation’s youth. Weekly_Market_Recap_June_102016 Click here for full Weekly Market Recap

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