The Central Bank of Solomon Islands has estimated that 5,300 employees lost their jobs due to Covid-19 last year.
Using the proxy indicator on membership contributions to Solomon Islands National Provident Fund (SINPF), the CBSI found that a total of 61,093 active contributors was recorded in 2020 but this figure decreased to 55,790 in the first quarter of 2021.
In its report released on May 7, the CBSI states that the current data compared to last year’s data showed a reduction of 5,300 contributors.
The report believes that people have lost their jobs due to the impact of Covid-19 on the country economy.
It states that the most affected sectors include accommodation (Hotels), Constructions, Transport and Forestry.
The report highlights that the biggest employer in the country is the public service with a total headcount of 20,713 employees recorded in the first quarter of 2021.
The report states that the actual data of unemployment is lacking in Solomon Islands, as such identification of actual unemployment is difficult to pinpoint.
“Unfortunately, the country does not have unemployment statistics like in other countries. The Central Bank of Solomon Islands uses proxy indicators for employment data instead, when assessing the labour market,” the report recorded.
Source: Island Sun newspaper