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Friday, May 2, 2008
Low unemployment levels in recent years could be threatened as a result of increased costs facing businesses and high wage demands, says Central Bank Governor Dr Marion Williams.
However, she said so far, high oil prices had not translated into layoffs, but this was because the situation was cushioned by Government subsidies.
Asked about the possibility of an economic slowdown in Barbados, Williams said: "If people become unemployed we will definitely see an economic slowdown.
"In some ways the fact that we survived 2006 with 7.3 per cent inflation rate does give comfort and suggest that if in 2008 inflation rate is around the same level that we could survive as well again,"
she said.
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