Prime Minister Gaston Browne spotlights the current growth in employment that is taking place in the country with figures released from the Social Security Scheme showing that there are some 47-thousand persons contributing to the scheme on a weekly/monthly basis.
Speaking on the Browne and Browne show on Saturday, PM Browne noted that under the previous UPP administration, contributors to the scheme dwindled to 32,000-contributors, but under Labour, this number rose to 42,000-persons before the pandemic and now stands at a historic 47,000 contributors.
“This growth confirms not only a robust job market but also one capable of absorbing newcomers to the workforce and immigrant labour,” the prime minister explained.
He emphasized that Antigua and Barbuda currently enjoys near full employment. He noted personal stories, such as a Vincentian immigrant who secured employment within one week of arrival. According to Browne, the few unemployed individuals today either cannot work or are selectively avoiding jobs in sectors like hospitality or security.
According to PM Browne…Social Security’s fiscal health has significantly improved. Contributions from the private sector alone now generate $14 million monthly, exceeding the scheme’s $13 million in obligations – leaving room for modest savings even without government subsidies.
This contrasts sharply with the past. In 2010, a study confirmed the insolvency of the Social Security Scheme. Back then, pensioners queued at dawn in hopes of receiving delayed payments. Under the current administration, backlogs have largely been cleared. Remaining delays are now primarily due to processing times and not funding shortages, with over $20 million in reserves currently in deposit.
