Treasury Minister Allan Bell says he doesn’t think stock market turmoil will mean job losses here in the Island.
But he says the global downturn in the world economy will undoubtedly start to bite over the next 12 months.
Yesterday (Monday), government statistics showed unemployment is holding steady at 1.4 per cent – with 595 people out of work.
Mr Bell says trouble in the American banking system probably won’t have an immediate effect (audio file attached):
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