The objective of this paper is to address this research gap by looking into the issue of overfishing using a sectoral approach (i.e., in terms of commercial fisheries, municipal fisheries and total marine fisheries). It is hoped that the results will help show whether or not overfishing indeed exists as sectoral problem. This paper also attempts to provide, given limited data, some preliminary estimation of the likely employment impacts that may result from future reductions in fishing effort intended to control overfishing. This exercise is aimed to provide a rough picture of the social cost, albeit partial, of possible effort reduction within the marine fisheries.