PREPARED by a team of economists and other experts, the Marianas Economic Roadmap includes the results of a community survey conducted from Nov. 14 to Dec. 5, 2024. The confidence level is 95%, and the margin of error is ±4.35%.
The results are presented in five sections:
• Attitudes about the respondent’s current and future financial status
• Perceptions of employment in the CNMI
• Feelings about the economy overall
• Attitudes about community engagement in the CNMI
• Feelings about the quality of life in the CNMI
A majority — 51% — of the respondents reported annual incomes below $20,000 while 10% said they earned $50,000 or more during the last tax filing year.
Asked how difficult or easy it was for respondents to meet basic financial needs, 54% said they were finding meeting basic financial needs difficult (40%) or very difficult (14%).
More than half of those having difficulty (55%) were Pacific Islanders (Chamorro/Carolinian/Micronesian). Forty-five percent (45%) were of Filipino or other Asian ethnicities. At the same time, 85% of those who identified as Caucasians said they were having an easy or very easy time meting financial needs.
Asked about their outlook for the next 12 months, about 54% of the respondents believed that their household income would remain the same while 19% expected a decrease in income, and 4% anticipated that they would have zero income. Only 17% indicated that they would have more income.
As for factors that affected their financial situation in the last 12 months, cost of living (49%) and loss of employment or hours (22%) were the top answers.
Close to half of the respondents (47%) were most worried about the rising cost of living, while 20% and 8% were concerned about losing their jobs or losing government financial aid, respectively.
The survey data also showed that a plurality of respondents (30%) worked in the private sector while 21% were seeking jobs. Eighteen percent said they were unemployed while 11% were government employees.
At the time of the survey, 20% of the respondents were actively looking for a new job. Asked why, 31% wanted better pay while 21% were seeking more hours.
The respondents were asked if they believed the CNMI economy would change within the next 12 to 24 months: 33% said it would improve, 26% believed it would stay the same, 22% indicated it would get worse, and 19% said they didn’t know.
Nearly all (97%) said the CNMI needed more tourists, and 36% believed that the government should do more to promote tourism while 87% wanted the Commonwealth to bring in other or different types of businesses.
Almost two-thirds believe that the government can help create better opportunities and improve the economy.
Asked about their community engagement, 72% said they felt connected to their local community — 24% said they felt very connected and 48% were somewhat connected. Twenty-four percent felt only a weak connection.
At the same time, 20% of the respondents said they were planning to leave the CNMI. Why? Forty-two percent said they were looking for better job opportunities and higher incomes. As for those who said they would remain in the CNMI, 33% cited family as their primary motivation, 30% lifestyle, and 16% culture.
Regarding the quality of life in the CNMI, 11% of respondents said they were very satisfied, while 20% were moderately satisfied. Forty-four percent rated their quality of life as neutral or dissatisfied.
More than 90% were either satisfied or very satisfied with their family relationships and 74% were satisfied or very satisfied with their work. However, 15% were very dissatisfied with their health and 38% were less than satisfied with their ability to manage stress in their lives.
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Clearly, the economy remains the preeminent issue in the CNMI.
If you’re in office now or planning to run next year, you really need to know these numbers and what they mean. Seriously, if you haven’t at least read a summary of the Marianas Economic Roadmap, you shouldn’t be in a top government job.
By a way of a conclusion, the roadmap noted that “Without a more prosperous economy that creates a better future for its residents, the CNMI will continue to lost its population and decline as a destination and community.”
That’s a fact.
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