TriniTuner.com  |  Latest Event:  

Forums

Unemployment Count Thread

this is how we do it.......

Moderator: 3ne2nr Mods

User avatar
88sins
TriniTuner 24-7
Posts: 10110
Joined: July 22nd, 2007, 3:03 pm
Location: Corner of Everywhere Avenue & Nowhere Drive

Re: Unemployment Count Thread

Postby 88sins » December 4th, 2019, 12:48 pm

Ben_spanna wrote:^^^ As Usual
Blame the company and poor management.
Stupid ignorant people who are not at the helm of businesses facing stiff impossible import competition will always make such remarks.
Blame your government and CARICOM for selling out the region.
Theres NO protection, no advantages to manufacturing to compete against CHEAP imports that are not regulated nor taxed.
CARICOM used to play a vital position in importing into the region, but within the last 5-8 years have now withered down with no backbone and no apparent stance to securing its survival.


So, lemme get this right, you saying that it's the state's fault and that the state was supposed to ensure and supply protection for the interests of a private company? Where you get that idea? From a St. Ann's outpatient off he meds?
Son, the company, the exact same way they are the sole ones that set and seek to make sure they make and maintain their profit margins, is the sole one responsible for making sure they retain their market share so that the market remains satisfied with their products and doesn't have the need or want to seek alternative sources of goods, thus reducing their market share and profitability.
So, by your logic, you'd prefer that the state restrict, make less attractive or even outright ban the import of cheaper alternatives, to suffer the entire population, and in so doing aid in the potential creation of a monopolistic scenario? You want to tell ppl that they can only spend their money on local, regardless of the fact that the ppl getting better quality goods at a significantly lower cost,( thus greater value for money), by choosing to buy imported goods? You want to tell them to ignore that, for the sake of protecting a company that doesn't care about them or it's workers?

The prices of everything increasing, both local products and imported. That not changing anytime soon. What's needed is for companies to find methods of increasing their efficiencies, reducing losses, and expanding and fulfilling the different needs within the local, regional and international markets. Look at KISS for example. KISS is a local baking company, with multiple regional offices. Flour still selling in the grocery cheaper than their product, and similar goods can be found in small bakeries all over the country. But you ever hear KISS say "the gov't should stop the groceries from sellin flour cuz ppl makin they own bread & cake & bake & sada roti & that taking away from we sales, and stop small bakeries from being able to make or sell anything close to what we make & sell"?

Shiddy directions taken by shiddy executives, lead to shiddy outcomes. whether you can accept that or not is your business.

User avatar
Dave
3NE 2NR Moderator
Posts: 17977
Joined: April 22nd, 2003, 8:07 am
Location: playing with above and below
Contact:

Re: Unemployment Count Thread

Postby Dave » December 4th, 2019, 12:52 pm

Does Unilever actually manufacture anything or its all imported and packaged here?

User avatar
The_Honourable
TriniTuner 24-7
Posts: 8476
Joined: June 14th, 2009, 3:45 pm
Location: In the Land of Stupidity & Corruption

Re: Unemployment Count Thread

Postby The_Honourable » December 4th, 2019, 1:00 pm

Unilever meeting before retrenchment


Ben_spanna
punchin NOS
Posts: 3055
Joined: October 28th, 2016, 9:25 am

Re: Unemployment Count Thread

Postby Ben_spanna » December 4th, 2019, 1:01 pm

88sins wrote:
Ben_spanna wrote:^^^ As Usual
Blame the company and poor management.
Stupid ignorant people who are not at the helm of businesses facing stiff impossible import competition will always make such remarks.
Blame your government and CARICOM for selling out the region.
Theres NO protection, no advantages to manufacturing to compete against CHEAP imports that are not regulated nor taxed.
CARICOM used to play a vital position in importing into the region, but within the last 5-8 years have now withered down with no backbone and no apparent stance to securing its survival.


So, lemme get this right, you saying that it's the state's fault and that the state was supposed to ensure and supply protection for the interests of a private company? Where you get that idea? From a St. Ann's outpatient off he meds?
Son, the company, the exact same way they are the sole ones that set and seek to make sure they make and maintain their profit margins, is the sole one responsible for making sure they retain their market share so that the market remains satisfied with their products and doesn't have the need or want to seek alternative sources of goods, thus reducing their market share and profitability.
So, by your logic, you'd prefer that the state restrict, make less attractive or even outright ban the import of cheaper alternatives, to suffer the entire population, and in so doing aid in the potential creation of a monopolistic scenario? You want to tell ppl that they can only spend their money on local, regardless of the fact that the ppl getting better quality goods at a significantly lower cost,( thus greater value for money), by choosing to buy imported goods? You want to tell them to ignore that, for the sake of protecting a company that doesn't care about them or it's workers?

The prices of everything increasing, both local products and imported. That not changing anytime soon. What's needed is for companies to find methods of increasing their efficiencies, reducing losses, and expanding and fulfilling the different needs within the local, regional and international markets. Look at KISS for example. KISS is a local baking company, with multiple regional offices. Flour still selling in the grocery cheaper than their product, and similar goods can be found in small bakeries all over the country. But you ever hear KISS say "the gov't should stop the groceries from sellin flour cuz ppl makin they own bread & cake & bake & sada roti & that taking away from we sales, and stop small bakeries from being able to make or sell anything close to what we make & sell"?

Shiddy directions taken by shiddy executives, lead to shiddy outcomes. whether you can accept that or not is your business.

Continue being a sufferer!

Not even going to waste a paragraph on you.............

User avatar
88sins
TriniTuner 24-7
Posts: 10110
Joined: July 22nd, 2007, 3:03 pm
Location: Corner of Everywhere Avenue & Nowhere Drive

Re: Unemployment Count Thread

Postby 88sins » December 4th, 2019, 2:06 pm

Ben_spanna wrote:Continue being a sufferer!

Not even going to waste a paragraph on you.............


ok King Nitwit, but just remember this
tho u call me a sufferer, I know for a fact that my dogs live a better life than you do


Toodles :-P

User avatar
shake d livin wake d dead
TunerGod
Posts: 31605
Joined: July 20th, 2009, 1:25 pm
Location: all over

Re: Unemployment Count Thread

Postby shake d livin wake d dead » December 4th, 2019, 2:38 pm

jhonnieblue wrote:Know some personal friends working Unilever.
Basically the company can't compete and it's no longer profitable to continue operating in trinidad. Especially with the union.
The Mexican arm will probably take over manufacturing.


Root of all the sheit in Trinidad

User avatar
Dizzy28
TriniTuner 24-7
Posts: 16676
Joined: February 8th, 2010, 8:54 am
Location: People's Republic of Bananas

Re: Unemployment Count Thread

Postby Dizzy28 » December 4th, 2019, 2:49 pm

shake d livin wake d dead wrote:
jhonnieblue wrote:Know some personal friends working Unilever.
Basically the company can't compete and it's no longer profitable to continue operating in trinidad. Especially with the union.
The Mexican arm will probably take over manufacturing.


Root of all the sheit in Trinidad


More than likely it will be the Dominican Republic Unilever. That way use can be made of the Caricom/DR Trade Agreement if needed

16 cycles
3ne2nr Toppa Toppa
Posts: 5526
Joined: May 10th, 2003, 9:25 am

Re: Unemployment Count Thread

Postby 16 cycles » December 4th, 2019, 4:19 pm

Mittal set up the play book to deal with unions to the detriment of employees...

User avatar
shake d livin wake d dead
TunerGod
Posts: 31605
Joined: July 20th, 2009, 1:25 pm
Location: all over

Re: Unemployment Count Thread

Postby shake d livin wake d dead » December 28th, 2019, 11:50 am

Ansatech ceased trading today...A.Sabga indicated that there were heavy losses in the business and from Monday workers would be given termination letters

User avatar
The_Honourable
TriniTuner 24-7
Posts: 8476
Joined: June 14th, 2009, 3:45 pm
Location: In the Land of Stupidity & Corruption

Re: Unemployment Count Thread

Postby The_Honourable » December 29th, 2019, 2:07 pm

ANSA offers VSEP at Tech, Agostini’s closes retail stores

Private sector companies in year-end restructuring

Image

TWO of T&T’s largest and oldest publicly listed, private sector groups have announced restructurings of parts of their sprawling empires—a possible indication of the delayed impact that the five-year downturn in the domestic economy is finally having on the corporate sector.

The ANSA McAL group of companies yesterday advised that ANSA Technologies Ltd will undergo a “restructuring exercise” from Monday, December 30 that will involve the displacement of workers.

Insiders told the Sunday Express that they were alerted to the development when ANSA McAL group vice chairman, Andrew Sabga, visted the San Fernando-based, energy sector equipment service and supply company on Friday to convey the news.

In a preliminary statement yesterday, ANSA McAL assured the trade and its customers that product availability and project services will not be affected as a result of the restructuring.

The group said ANSA Technologies has approximately 50 employees and that “the company recognizes that this decision will have a significant impact on the employees and their families and has decided to consult with employees and offer a VSEP (Voluntary Seperation of Employment Plan) payment to displaced workers.”

The group said it would also “attempt to absorb the displaced workers to fill vacancies that may exist” elsewhere in the group based on suitability. The conglomerate, T&T’s largest, pledged as well to extend counseling and financial guiding services where necessary.

“This decision places the construction sector in a better position to endure the depressed economic market and will enable the sector to remain competitive in the market, ensuring sustainability of the industry in Trinidad and Tobago, and the region,” said ANSA McAL.

ANSA Technologies was established in 2004 through the merger of Hardware & Oilfield Equipment Company Ltd and HJ Gransaull & Company.

For the nine months ended September 30, 2019, ANSA McAL generated revenues of $4.71 billion that were 3.6 per cent ahead of its 2018 numbers. The group’s after-tax profit for the first three quarters of its financial year amounted to $442.4 million, which was 2.7 per cent less than for the same period in 2018.

In his chairman’s statement, ANSA McAL’s executive chairman Norman Sabga said: “Without the one-off restructuring costs, the group’s profit after tax increased by 3 per cent over the prior year.”

Earlier this month, ANSA McAL announced that Anthony Sabga III was appointed to the role of Group CEO, effective on January 1. His uncle, Andrew N. Sabga was appointed to the role of deputy chairman of the ANSA McAL board, while Norman Sabga remains as executive chairman.

Also planning a year-end restructuring is the Agostini group, which announced on Friday that the two Agostini Interiors retail stores located in Port of Spain and San Fernando would be permanently closed with effect from December 31.

In a statement, Agostini said: “This decision to exit the retail segment was not taken lightly and is the result of a decision to realign the company around our core business of serving the contracts and projects segments of the market with our contracting services and range of building materials from Armstrong, USG, SIKA and Hilti.”

The conglomerate said that it is about to conclude negotiations with a paint distributor to make the Pratt and Lambert brand of paint available nationwide.

For its financial year ended September 30, 2019, Agostini generated $3.27 billion in revenue from contracts with its customers, which was an increased of less than 1 per cent over its revenue performance for 2018. The group’s profit after tax increased by 12 per cent to $162.9 million in 2019 compared with the year-earlier period.

About 58 per cent of Agostini is owned by the Mouttet family and Riaz Ahamad and the National Insurance Board are among the company’s top shareholders.

Agostini, through its Smith Robertson holdings, is one of the largest pharmaceutical and personal care distributors in T&T. The group also owns SuperPharm, the pharmacy chain and is involved in a 50/50 joint venture with Goddard Enterprises of Barbados for Caribbean Distribution Partners Ltd, which is the parent company of eight Fast Moving Consumer Goods (FMCG) and manufacturing companies operating in six regional market.

In its Monetary Poliy Announcement on Friday, the Central Bank said: “In the non-energy sectors, preliminary data for indicators monitored by the Central Bank point to modest expansions in the distribution and finance sectors during the third quarter. An uptick in local sales of cement suggests that construction activity is responding to the rise in public sector infrastructural investments.”

Allied to some expansion in the non-energy sector, the Central Bank also flagged positive developments in the energy sector: “In the third quarter of 2019 natural gas production increased to 3,604 million cubic feet per day (mmcf/d), 3.7 per cent above output in the same quarter of 2018, despite maintenance shutdowns at two large natural gas platforms.

“This spurred year-on-year increases in petrochemicals (23.3 per cent) and liquefied natural gas (8.0 per cent).”

For the last five years, the International Monetary Fund has pegged the T&T economy as having grown by 1.8 per cent in 2015, declined by 6.5 per cent and 1.9 per cent in 2016 and 2017. The IMF says the domestic economy grew by 0.3 per cent in 2018 and predicts that the economy will flatline in 2019.

Source: https://trinidadexpress.com/business/lo ... 6489d.html

User avatar
Dizzy28
TriniTuner 24-7
Posts: 16676
Joined: February 8th, 2010, 8:54 am
Location: People's Republic of Bananas

Re: Unemployment Count Thread

Postby Dizzy28 » December 29th, 2019, 5:57 pm

Massy's restructuring coming up. That should have some retrenchments as well. So far Massy Motors, Massy Machinery and Massy ACL supposed to be consolidated into one.

At least that's what a guy in ACL told me last week.

User avatar
agent007
punchin NOS
Posts: 2774
Joined: November 19th, 2008, 11:19 am

Re: Unemployment Count Thread

Postby agent007 » December 29th, 2019, 7:15 pm

I can confirm that Massy Automotive will be subject to some changes. Maybe finally, they will put customers first.

User avatar
Dizzy28
TriniTuner 24-7
Posts: 16676
Joined: February 8th, 2010, 8:54 am
Location: People's Republic of Bananas

Re: Unemployment Count Thread

Postby Dizzy28 » December 29th, 2019, 7:42 pm

PEP page say 18 Massy companies to undergo restructuring.

User avatar
shake d livin wake d dead
TunerGod
Posts: 31605
Joined: July 20th, 2009, 1:25 pm
Location: all over

Re: Unemployment Count Thread

Postby shake d livin wake d dead » December 29th, 2019, 8:27 pm

just now is was.........internet cuts

screwbash
Riding on 18's
Posts: 1648
Joined: April 19th, 2011, 10:03 pm

Re: Unemployment Count Thread

Postby screwbash » December 30th, 2019, 3:07 am

how come this type ah ting never happen under the kamla led government.

User avatar
ADONI
18 pounds of Boost
Posts: 2420
Joined: March 17th, 2008, 1:55 pm
Location: Next Door
Contact:

Re: Unemployment Count Thread

Postby ADONI » December 30th, 2019, 9:06 am

Massy Technologies consisted of and now remains with Infocom only;
1. Infocom (formerly, Illuminat)
2. Communications (now Amplia)
3. Applied Imaging (formerly, Pierrea and Company). Now sold and renamed.

User avatar
Dizzy28
TriniTuner 24-7
Posts: 16676
Joined: February 8th, 2010, 8:54 am
Location: People's Republic of Bananas

Re: Unemployment Count Thread

Postby Dizzy28 » December 30th, 2019, 9:09 am

screwbash wrote:how come this type ah ting never happen under the kamla led government.


Really difficult to place private sector machinations on any particular Government though.

No Government has made any meaningful steps to diversify our economy meaning we still stuck hoping for favourable commodity prices for oil, lng, ammonia and methanol. So whenever there are declines in those commodity prices and our economy contracts we are inevitably going to experience shocks to the system. Private sector would be the first to right size as they answer to shareholders

What has happened though is that we have fell rather alarmingly under the PNM on the World Bank's Ease of Doing Business Ranking. We were 79th in 2015 and are now 102nd on the 2020 ranking with persistent declines in all the years in between.

User avatar
agent007
punchin NOS
Posts: 2774
Joined: November 19th, 2008, 11:19 am

Unemployment Count Thread

Postby agent007 » December 30th, 2019, 11:03 am

ADONI wrote:Massy Technologies consisted of and now remains with Infocom only;
1. Infocom (formerly, Illuminat)
2. Communications (now Amplia)
3. Applied Imaging (formerly, Pierrea and Company). Now sold and renamed.


I need clarification on something, if possible of course.

Back when the Group was Neal & Massy Holdings which got renamed to just Massy Holdings in 2014, both Pereira & Co. and Illuminat got renamed to Massy Technologies Applied Imaging (MTAI) and Massy Technologies InfoCom (MTIC).

According to amaranthbusinesssolutions.com, they mentioned that back in same 2014, Pereira & Co. got renamed to Amaranth Business Solutions Applied Imaging (ABSAI) and not MTAI.

But on the companies website of the MoLA, the name of the company is Amaranth Business Solutions (formerly JDAP Holdings) registered on May 29th 2019.

MTAI also according to the companies website registered on October 31st 2005, a whole 9 years prior to the Group’s rebranding.

According to the 2019 Annual Report Financial Statements under Notes to the Consolidated Financial Statements, section 1, it shows that MTAI is still 100% owned by the a Group.

Under section 35, Disposal of Subsidiaries, the report indicates that on September 30th 2019, the Group sold MTAI to JDAP Holdings Limited. It went on to say that the assets of MTAI was purchased by 4 stakeholders of the Group (2 Directors of MTAI, an employee of Massy Ltd. and an executive director of Massy Holdings.)

The registered address for Pereira, Amaranth and MTAI all continue to be 88 Queen St. POS.

Questions:

1. How is it that the amaranth website made no mention of Pereira? This is contrary to the info on current and past annual reports.
2. Why would the 2019 annual report refer to a name that was subsequently renamed, that is, JDAP which is the former name to Amaranth?
3. Why not name the 4 persons who now own the former assets of MTAI/Pereira & Co.?

Anyway, the report went on to indicate under section 36 entitled ‘Subsequent Events’, indicated the amalgamations of Massy Gas Products Limited, Massy Petrochemicals Ltd, Massy Energy Engineered Solutions Ltd and Massy Energy Fabric Maintenance Ltd, all effective 3rd December, 2019.

Let’s see what happens to the other sectors/BU’s of the Group.

Image
Last edited by agent007 on December 30th, 2019, 11:03 am, edited 1 time in total.

User avatar
zoom rader
TunerGod
Posts: 27300
Joined: April 22nd, 2003, 12:39 pm
Location: Grand Cayman

Re: Unemployment Count Thread

Postby zoom rader » December 30th, 2019, 11:04 am

I used to work for HJ Gransaul in the earlies , which was an ok paying company at that time.

When ANSA took over I resigned as 1% knew nothing about serving and maintenance companies. They ran it as dealership and had folks that knew nothing about engineering. The few good folk that they had also left.

ANSA provided crappy service on the estate and offshore. They underpaid the staff, here's an example the going rate for an Ansa technician offshore was $54 per hour in 1991. ANSA paid the technician $18 from that $54. If you made noise about it they simply replaced you.

They were quick to promote you but only in name as your pay did not match What you were supposed to get.

All in all don't ever work for ANSA.

They also lied as they don't have 50 employees, they hire a lot of contractors that at not permanent. It's about 200 workers

User avatar
Dizzy28
TriniTuner 24-7
Posts: 16676
Joined: February 8th, 2010, 8:54 am
Location: People's Republic of Bananas

Re: Unemployment Count Thread

Postby Dizzy28 » December 30th, 2019, 11:27 am

agent007 wrote:
ADONI wrote:Massy Technologies consisted of and now remains with Infocom only;
1. Infocom (formerly, Illuminat)
2. Communications (now Amplia)
3. Applied Imaging (formerly, Pierrea and Company). Now sold and renamed.


I need clarification on something, if possible of course.

Back when the Group was Neal & Massy Holdings which got renamed to just Massy Holdings in 2014, both Pereira & Co. and Illuminat got renamed to Massy Technologies Applied Imaging (MTAI) and Massy Technologies InfoCom (MTIC).

According to amaranthbusinesssolutions.com, they mentioned that back in same 2014, Pereira & Co. got renamed to Amaranth Business Solutions Applied Imaging (ABSAI) and not MTAI.

But on the companies website of the MoLA, the name of the company is Amaranth Business Solutions (formerly JDAP Holdings) registered on May 29th 2019.

MTAI also according to the companies website registered on October 31st 2005, a whole 9 years prior to the Group’s rebranding.

According to the 2019 Annual Report Financial Statements under Notes to the Consolidated Financial Statements, section 1, it shows that MTAI is still 100% owned by the a Group.

Under section 35, Disposal of Subsidiaries, the report indicates that on September 30th 2019, the Group sold MTAI to JDAP Holdings Limited. It went on to say that the assets of MTAI was purchased by 4 stakeholders of the Group (2 Directors of MTAI, an employee of Massy Ltd. and an executive director of Massy Holdings.)

The registered address for Pereira, Amaranth and MTAI all continue to be 88 Queen St. POS.

Questions:

1. How is it that the amaranth website made no mention of Pereira? This is contrary to the info on current and past annual reports.
2. Why would the 2019 annual report refer to a name that was subsequently renamed, that is, JDAP which is the former name to Amaranth?
3. Why not name the 4 persons who now own the former assets of MTAI/Pereira & Co.?

Anyway, the report went on to indicate under section 36 entitled ‘Subsequent Events’, indicated the amalgamations of Massy Gas Products Limited, Massy Petrochemicals Ltd, Massy Energy Engineered Solutions Ltd and Massy Energy Fabric Maintenance Ltd, all effective 3rd December, 2019.

Let’s see what happens to the other sectors/BU’s of the Group.


Its probably 4 of the 5 people people named and photoed in their website under Teams - Harford, Henderson, Ticklal, Chang and Scott.

With the exception of Chang they are all long standing staff dating back to Perreira and Co days

User avatar
zoom rader
TunerGod
Posts: 27300
Joined: April 22nd, 2003, 12:39 pm
Location: Grand Cayman

Re: Unemployment Count Thread

Postby zoom rader » December 30th, 2019, 4:10 pm

Start looking to the UK for a better quality of life than in this PNM hell hole

https://www.gov.uk/guidance/immigration ... ation-list

rspann
TriniTuner 24-7
Posts: 11167
Joined: June 25th, 2010, 10:23 pm
Location: Trinituner 24/7

Re: Unemployment Count Thread

Postby rspann » December 30th, 2019, 4:12 pm

Nah, Grate is the PNM vision 2030. Here gonna be a paradise.

User avatar
zoom rader
TunerGod
Posts: 27300
Joined: April 22nd, 2003, 12:39 pm
Location: Grand Cayman

Re: Unemployment Count Thread

Postby zoom rader » December 30th, 2019, 4:17 pm

rspann wrote:Nah, Grate is the PNM vision 2030. Here gonna be a paradise.
Non PNM need to ride out from here , this is no place for decent folk.

rspann
TriniTuner 24-7
Posts: 11167
Joined: June 25th, 2010, 10:23 pm
Location: Trinituner 24/7

Re: Unemployment Count Thread

Postby rspann » December 30th, 2019, 4:21 pm

Me nah leaving as long as PNM in power.

User avatar
De Dragon
TriniTuner 24-7
Posts: 17902
Joined: January 27th, 2004, 3:49 am
Location: Enjoying my little miracles............

Re: Unemployment Count Thread

Postby De Dragon » December 30th, 2019, 6:00 pm

rspann wrote:Me nah leaving as long as PNM in power.

Easy dey PNM Denyse Plummer :lol: :lol:

rspann
TriniTuner 24-7
Posts: 11167
Joined: June 25th, 2010, 10:23 pm
Location: Trinituner 24/7

Re: Unemployment Count Thread

Postby rspann » December 30th, 2019, 6:07 pm

De Dragon wrote:
rspann wrote:Me nah leaving as long as PNM in power.

Easy dey PNM Denyse Plummer :lol: :lol:


As long as PNM there life good.

User avatar
hydroep
3ne2nr Toppa Toppa
Posts: 5018
Joined: February 4th, 2007, 9:16 pm

Re: Unemployment Count Thread

Postby hydroep » January 12th, 2020, 6:48 am

Thousands on the breadline
CHARLES KONG SOO

More than 20,000 peo­ple have lost their jobs in T&T since 2015.

One of the largest mass re­trench­ments was the ap­prox­i­mate­ly 5,500 Petrotrin per­ma­nent and tem­po­rary em­ploy­ees who were sent home when the re­fin­ery was shut down on No­vem­ber 30, 2018.

In part two of his na­tion­al ad­dress to the na­tion called "It's Your Busi­ness" on Jan­u­ary 7, 2019, Prime Min­is­ter Dr Kei­th Row­ley said 20,000 peo­ple had lost their jobs in T&T since 2015.

Since then, more peo­ple have been placed on the bread­line.

The most re­cent was the 178 Unilever Caribbean Ltd (UCL) where work­ers faced a bleak Christ­mas when they were thrown on the bread­line in De­cem­ber 2019. Ac­cord­ing to the lat­est avail­able da­ta from the Cen­tral Sta­tis­ti­cal Of­fice (CSO) con­tained in the Cen­tral Bank of T&T's Mon­e­tary Pol­i­cy Re­port of May 2019, the un­em­ploy­ment rate in­creased to 4.8 per cent in 2017—the high­est rate of un­em­ploy­ment since 2012—from 4.0 per cent in 2016.

Dur­ing 2017, the num­ber of peo­ple em­ployed fell by just un­der 10,000 while the labour force con­tract­ed by 4,600 peo­ple. This re­sult­ed in a small de­cline in the par­tic­i­pa­tion rate from 59.7 per cent in 2016 to 59.2 per cent in 2017.

In the ab­sence of of­fi­cial un­em­ploy­ment da­ta for 2018, re­trench­ment no­tices filed with the Min­istry of Labour and Small En­ter­prise De­vel­op­ment in­di­cate that re­trench­ments were high­er by over 53.2 per cent (ex­clud­ing the lay­offs due to the clo­sure of the Petrotrin oil re­fin­ery) in 2018.

In Jan­u­ary-May 2019 re­trench­ments con­tin­ued to rise—631 peo­ple com­pared with 412 peo­ple in the sim­i­lar pe­ri­od in 2018. Fur­ther, the av­er­age num­ber of va­can­cies ad­ver­tised in the print me­dia fell by 11.7 per cent (year-on-year) over the first five months of 2019.

Econ­o­mist: It's a source of con­cern

Econ­o­mist Roger Ho­sein said "The lat­est of­fi­cial labour mar­ket sta­tis­tics from the CSO in­di­cate that the un­em­ploy­ment rate de­clined to 3.8 per cent dur­ing the first half of 2018 com­pared with 4.9 per cent dur­ing the same pe­ri­od of 2017.

"On a year-on-year ba­sis, to­tal em­ploy­ment fell by 900 per­sons, while the labour force con­tract­ed by 8,500 per­sons.

"This re­sult­ed in a de­cline in the labour force par­tic­i­pa­tion rate to 58.7 per cent over the first half of 2018 com­pared with 59.7 per cent dur­ing the cor­re­spond­ing pe­ri­od of 2017."

"The con­tin­ued de­cline in the labour force par­tic­i­pa­tion rate is a source of con­cern since this has im­pli­ca­tions for fu­ture eco­nom­ic prospects."

He said the 3.8 per cent un­em­ploy­ment rate in 2018 was a very low rate, since 2003 it had has been be­low ten per cent on av­er­age.

Ho­sein said since 2012 the un­em­ploy­ment rate on av­er­age per an­num had not crossed five per cent which was a very re­mark­able sta­tis­tic; on pa­per, it was one of the best in the world.

He said what was alarm­ing about the T&T econ­o­my case was the fall over time in its labour force par­tic­i­pa­tion rate which stood at 63.9 per cent in 2006 and col­lapsed to 58 per cent by 2018.

Ho­sein said the State made the tremen­dous er­ror in the last 15 years of be­ing too heav­i­ly in­volved in the labour mar­ket and ba­si­cal­ly starved the pri­vate sec­tor for work­ers.

He said while the pri­vate sec­tor was ex­pand­ing, it was ex­pand­ing main­ly in the ser­vices sec­tor. The State, he said, want­ed to ex­pand in the non-en­er­gy ex­port sec­tor, so the econ­o­my de­vel­oped se­ri­ous struc­tur­al im­bal­ances that need­ed to be ad­dressed.

Ho­sein said, how­ev­er, one of the most wor­ry­ing as­pects of the labour mar­ket da­ta trends in re­cent times was the sharp de­cline in the em­ploy­ment of pe­tro­le­um and gas sec­tor work­ers—this col­lapsed from 21,300 in 2014 to 12,600 in June 2018.

He said the pe­tro­le­um sec­tor was a high­ly com­pet­i­tive high hu­man cap­i­tal sec­tor and the loss of 40 per cent of the em­ployed labour force was a fright­en­ing even­tu­al­i­ty as these skills if they were lost or mi­grat­ed to near­by Guyana, Suri­name or else­where will take time to be re­built.

Ho­sein said pol­i­cy mak­ers would want to en­sure for ex­am­ple that by the time the Ru­by field comes on-stream with BHP Bil­li­ton in 2023, that the sec­tor was not fur­ther starved for work­ers with the rel­e­vant skill-sets.


Com­pa­nies that laid-off work­ers from 2015-2019
  • Arcelor­Mit­tal sent home 600 work­ers on De­cem­ber 2015 and laid off 800 con­tract work­ers ear­li­er that year
  • 200 TMS In­ter­na­tion­al Cor­po­ra­tion work­ers were al­so let go in 2015
  • Cen­tral Trinidad Steel Lim­it­ed (Cen­trin) sent home 200 work­ers on Feb­ru­ary 2016.
  • Over 800 Con­stru­to­ra OAS work­ers were laid off on March 2016
  • Caribbean De­vel­op­ment Com­pa­ny which pro­duces Carib beer re­trenched 15 work­ers on May 2016
  • 66 work­ers of roof­ing pro­duc­er, GGI Trinidad Lim­it­ed were sent home on Au­gust 2016
  • Over 100 work­ers of the Tourism De­vel­op­ment Com­pa­ny were re­trenched on Au­gust 2017
  • 16 work­ers at the Trinidad Ce­ment Lim­it­ed (TCL) were put on the bread­line on Sep­tem­ber 2018
  • Pe­tro­le­um mar­ket­ing and whole­sal­ing com­pa­ny Unipet laid off sev­en su­per­vi­sors in Oc­to­ber 2018
  • Ap­prox­i­mate­ly 5,500 Petrotrin per­ma­nent and tem­po­rary/ca­su­al em­ploy­ees lost their jobs when the re­fin­ery was shut down on No­vem­ber 30, 2018
  • TSTT re­trenched over 500 work­ers on No­vem­ber 15, 2018
  • 99 non-aca­d­e­m­ic staff at the Uni­ver­si­ty of TT (UTT) re­ceived sep­a­ra­tion let­ters on Au­gust 2019
  • 178 Unilever Caribbean Ltd (UCL) work­ers were thrown on the bread­line in De­cem­ber 2019.


https://www.guardian.co.tt/news/thousands-on-the-breadline-6.2.1027160.8a36af258e

User avatar
maj. tom
TriniTuner 24-7
Posts: 10876
Joined: March 16th, 2012, 10:47 am
Location: ᑐᑌᑎᕮ

Re: Unemployment Count Thread

Postby maj. tom » January 12th, 2020, 6:58 am

But most importantly, did he blame Kamla?

User avatar
zoom rader
TunerGod
Posts: 27300
Joined: April 22nd, 2003, 12:39 pm
Location: Grand Cayman

Re: Unemployment Count Thread

Postby zoom rader » January 12th, 2020, 8:17 am

When you sleep with the devil

Ben_spanna
punchin NOS
Posts: 3055
Joined: October 28th, 2016, 9:25 am

Re: Unemployment Count Thread

Postby Ben_spanna » January 12th, 2020, 9:08 am

Maybe now employees will start to value their jobs, arrive ON time for work, put in a honest days work and add value totheir companies.... not to mention maybe they will stop taking so many extra unwarranted days off and time off.

Advertisement

Return to “Ole talk and more Ole talk”

Who is online

Users browsing this forum: Duane 3NE 2NR, Google [Bot] and 76 guests