NIA CHARLESTOWN NEVIS – The Nevis Island Administration (NIA), under the leadership of the Concerned Citizens Movement (CCM), continues to strengthen its economic foundation by achieving growth in employment and wages.
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 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 from the employment report for the January-July 2024 period include:
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.
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%.
He emphasized that this success has not been without challenges, noting slight underperformance in specific tax areas. Nevertheless, the overall financial health of Nevis continues to improve.
“Our growth in employment, coupled with increased wages and revenue, demonstrates our commitment to creating a resilient and prosperous future for Nevis. We remain on track to meet or exceed our budgeted targets, benefiting all who contribute to and rely on our economy,” Premier Brantley concluded.
END