Acting Commerce Secretary Remedio C. Mafnas, 2nd right, poses with U.S. Census Bureau Economic Census Assistant Survey Director Michael Sprung, Assistant Survey Director Staff Chief Bobby Nusz and Central Statistics Director Justin Andrew on Thursday.
THE 2022 economic census data showed a downward trend in business revenue and employment from 2017 to 2022. Super Typhoon Yutu slammed into Saipan and Tinian in October 2018 while the Covid-19 pandemic restrictions all but shut down the tourism-based local economy from 2020 to 2022.
On Thursday, U.S. Census Bureau Economic Census Assistant Survey Director Michael Sprung and Assistant Survey Director Staff Chief Bobby Nusz presented the CNMI’s 2022 economic census data to the media.
Sprung said the same information was also provided to Gov. Arnold I. Palacios, lawmakers, and the Saipan Chamber of Commerce.
In his presentation, Sprung noted significant declines in four basic data items: business establishments, sales, payroll and employment.
The number of establishments slid to 1,523 in 2022 from 1,742 in 2017 or a 12.6% decrease while the total business sales in the CNMI plunged to $1.7 billion in 2022, a 47% drop from the $3.6 billion total five years earlier.
The number of employees was slashed by more than a third from a workforce of 22,652 in 2017 to 14,488 in 2022, a 36% decline. Annual payroll amount slumped to $338.3 million in 2022 from $419.5 million in 2017, a 19.3% reduction.
A line graph indicated that the downward trend in business sales from 2017 to 2022 was as steep as the upward trend from 2012 to 2017.
Business sales surged almost threefold to $3.6 billion in 2017 from $1.3 billion in 2012, with the number of business establishments rising 30% to 1,742 in 2017 from 1,339 in 2012.
Based on Marianas Visitors Authority data, tourist arrivals increased more than 64% to 659,741 in 2017 from 401,022 in 2012.
During the Covid years, arrivals totaled 88,172 in 2020, 12,684 in 2021 and 96,432 in 2022.
The census data presented on Thursday also showed the rise and fall in the number of employees from 2007 to 2022. In 2007, the CNMI had 22,622 employees working for 1,191 business establishments. A tight labor market of 14,215 employees worked for 1,339 establishments in 2012. Employment rose to 22,662 jobholders who worked for 1,742 establishments in 2017 before declining again to just above the 2012 level with 14,469 employees working for 1,523 establishments in 2022.
Asked for comment, Acting Commerce Secretary Remedio C. Mafnas said the CNMI needs to entice new investors especially those involved in tourism, “and we are working on that.”