Trinidad: Employment up,saving deposits down

ECONOMISTS from the Canadian Imperial Bank of Commerce (CIBC), Canada’s fifth largest bank by assets, estimated late last week that Trinidad and Tobago’s (T&T) unemployment rate has returned to its 12-month high of 5.3 per cent. They also noted savings deposits in the local financial system are down 4.5 per cent.

CIBC said the T&T stock market index is also down for the year so far, and that, due to increased government borrowing, T&T also now has a heavier US dollar interest-repayment burden.



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s