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Central Bank preliminary indications… 1.7 % economic growth in first quarter 2013…

Business NewsCentral Bank preliminary indications show a 1.7 per cent growth in the economy for the first quarter of 2013.

However, the number of retrenchment notices filed with the Labour Ministry for the first five months of 2013 is 16 per cent higher than the same period last year.Jawala Rambarran.jpg2

This is according to Central Bank Governor, Jwala Rambarran, on Monday, as he addressed the audience at a panel discussion on “Imperatives for Competitiveness and Sustainable Development” hosted by the American Chamber of Commerce at the Hilton Trinidad.

Mr. Rambarran said this most recent information suggested that employment conditions in the country may have deteriorated, despite the latest Central Statistical Office data from quarter two 2012 showing an unemployment rate of 4.9 per cent.

 

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