Barbados: jobs and pay

What is the unemployment rate in Barbados?

Barbados' unemployment rate was 6.1% at the end of March 2026, about 0.2 percentage points lower than a year earlier, according to the Central Bank of Barbados' Review of Barbados' Economy: January to June 2026, which reports the Barbados Statistical Service's labour force survey.

The fall is partly because fewer people were in the labour force: it shrank by 2,700 as more people retired, and employment fell by 2,300. Unemployment benefit claims were 3.7% lower in January to June 2026 than a year earlier, according to the full review.

Official sources: Central Bank of Barbados: Review of Barbados' Economy, January to June 2026 · Central Bank of Barbados: Review of Barbados' Economy, January to June 2026 (PDF)

What is the retirement age in Barbados?

The National Insurance pensionable age in Barbados is 67, in effect since 1 January 2018, according to the National Insurance and Social Security Service's old-age contributory pension page. People may take a reduced pension from 60 or a higher one by waiting until as late as 70.

The pension changes by 0.583% for each month taken earlier or later than 67. To qualify, a person needs at least 150 contributions actually paid and 500 paid or credited. The pension is capped at 60% of average insurable earnings over the best five years. Pensionable age is a benefit rule, not a compulsory retirement age set by employers.

Official sources: NIS: Old-Age Contributory Pension

How much is the old age pension in Barbados?

The non-contributory old age pension in Barbados is $230 a week, the same for everyone who qualifies, according to the National Insurance and Social Security Service's non-contributory old-age pension page. People who paid enough contributions get the contributory pension instead, which has a minimum of $254 a week under the old calculation basis, according to the contributory pension page.

The non-contributory pension is for citizens and permanent residents aged 67 who meet residence rules and do not receive a larger public or NIS pension. Amounts are in Barbados dollars. The contributory pension depends on earnings and years of contributions.

Official sources: NIS: Non-Contributory Old-Age Pension · NIS: Old-Age Contributory Pension

How much is national insurance in Barbados?

Private-sector employees in Barbados pay 11% of insurable earnings and their employers 12.75%, a total of 23.75%, according to the National Insurance and Social Security Service's contribution rates page. A further 0.25% each goes to the Resilience and Regeneration Fund.

The employee share is made up of national insurance (6.75%), the non-contributory pension fund (2%), unemployment (0.75%), the training levy (0.5%) and the health service contribution (1%). Employers also pay employment injury and severance contributions. Rates differ for government permanent staff, who pay no unemployment contribution, and for people over pensionable age. Contributions apply up to an insurable earnings ceiling.

Official sources: NIS: Contribution Rates

What is the minimum wage in Barbados?

Barbados' national minimum wage, and the separate minimum wage for security guards, were to rise by 2% from 21 January 2026, according to the Ministry of Labour, Social Security and the Third Sector's notice of intention to make the Minimum Wage Order 2025, issued under the Minimum Wage Act, 2017-4.

The notice gives the size of the increase but not the new hourly rate, and the linked order could not be opened on 15 October 2026. The rate is set by order of the Minister, and the order is published by the Ministry and the Government Information Service. A separate Protection of Wages Act, 2026-15 changes how wages must be paid.

Official sources: Ministry of Labour: Notice of Intention to Make Minimum Wage Order 2025

What is Barbados' minimum wage?

The ILO puts the statutory minimum wage in Barbados at 1,473 BBD a month (about $737) in 2024. Its high point since 2012 was 2021, at 1,473 BBD a month; its low point was 2012, at 1,083 BBD a month.

How much do workers in Barbados earn on average?

$1,340 a month: that is average monthly earnings of employees in Barbados for 2016, according to the ILO. It is 1st highest of 20 in Latin America & Caribbean, where the median is $466 a month. World rank, highest first: 36th of 102.

What is the unemployment rate in Barbados?

The ILO puts the unemployment rate in Barbados at 6.5% in 2025. The peak was 12.2% in 2014 and the low 6.4% in 2024. It is 14th highest of 29 in Latin America & Caribbean, where the median is 6.0%. Of 174 countries with 2025 data, 61st highest.

What is youth unemployment in Barbados?

18.5%: that is unemployment among 15 to 24 year olds in Barbados for 2025, according to the ILO. Its high point since 2005 was 2014, at 33.1%; its low point was 2007, at 17.5%. Latin America & Caribbean median: 14.0%; Barbados is 13th highest of 29. Worldwide: 53rd of 174.

What is the labour force participation rate in Barbados?

The latest figure from the ILO, for 2025, is 64.7%. Its high point since 2005 was 2005, at 70.0%; its low point was 2021, at 62.4%. Across Latin America & Caribbean the middle value was 63.4%, and Barbados placed 12th highest of 29. Of 174 countries with 2025 data, 64th highest.

What share of women in Barbados are in the labour force?

In 2025, the labour force participation rate for women in Barbados was 61.0%, according to the ILO. Since 2005 it has ranged from 59.0% (2021) to 64.7% (2005). Across Latin America & Caribbean the middle value was 52.5%, and Barbados placed 6th highest of 29. World rank, highest first: 43rd of 174.

What is the employment rate in Barbados?

The latest figure from the ILO, for 2025, is 60.5%. Its high point since 2005 was 2007, at 64.5%; its low point was 2021, at 55.5%. Latin America & Caribbean median: 59.4%; Barbados is 11th highest of 29. World rank, highest first: 68th of 174.

What is vulnerable employment in Barbados?

According to the ILO, the share of workers who are own-account or contributing family workers in Barbados was 18.8% in 2025. Its high point since 2005 was 2019, at 20.0%; its low point was 2005, at 14.3%. It is 27th highest of 29 in Latin America & Caribbean, where the median is 29.8%. World rank, highest first: 117th of 174.

How many people in Barbados are employees?

80.5%: that is the share of workers who are paid employees in Barbados for 2025, according to the ILO. Its high point since 2005 was 2005, at 84.6%; its low point was 2019, at 79.4%. Across Latin America & Caribbean the middle value was 64.8%, and Barbados placed 2nd highest of 29. Of 174 countries with 2025 data, 52nd highest.