The Labour Market Survey, conducted by the Statistical Institute of Jamaica, revealed that there were 1, 204,800 employed individuals in April 2017 representing an increase of 35,800 or 3.1 per cent when compared with the 1,169,000, recorded in April 2016. According to the survey, employment for both males and females increased for the review period.
The unemployment rate also fell to 12.2 per cent in April. Comparatively, unemployment stood at 13.7 per cent in April 2016. State Minister in the Ministry of Finance and Public Service, Fayval Williams sees this as a sign of an improving economy and that the strategies implemented through government and private sector initiatives are bearing fruit. She believes the survey is clear evidence that the economy is moving towards greater macroeconomic health.
"Job growth is the ultimate test of an economy," Minister Williams said.
The Minister further stated, "These are encouraging trends. It means that we, both government and private sector, are doing many things right."
She also declared: "Taken against Jamaica's improved rankings in the Global Competitiveness Report, which now sees the country ranking as the 75th most competitive country in the world out of 138 countries versus a prior ranking of 86th, we can safely say we are positioned for even more growth."
Minister Williams is encouraging job seekers to continue preparing themselves through training for the job opportunities that are being generated in the economy.
She also encouraged entrepreneurs to implement good governance and financial discipline from the start of their businesses, as these will put their companies in a competitive position to tap opportunities to partner with larger companies or to access the broader capital markets.
References: http://www.jamaicaobserver.com/career/job-growth-soars-to-35-800-unemployment-rate-drops-to-12-2-_107509
The unemployment rate also fell to 12.2 per cent in April. Comparatively, unemployment stood at 13.7 per cent in April 2016. State Minister in the Ministry of Finance and Public Service, Fayval Williams sees this as a sign of an improving economy and that the strategies implemented through government and private sector initiatives are bearing fruit. She believes the survey is clear evidence that the economy is moving towards greater macroeconomic health.
"Job growth is the ultimate test of an economy," Minister Williams said.
The Minister further stated, "These are encouraging trends. It means that we, both government and private sector, are doing many things right."
She also declared: "Taken against Jamaica's improved rankings in the Global Competitiveness Report, which now sees the country ranking as the 75th most competitive country in the world out of 138 countries versus a prior ranking of 86th, we can safely say we are positioned for even more growth."
Minister Williams is encouraging job seekers to continue preparing themselves through training for the job opportunities that are being generated in the economy.
She also encouraged entrepreneurs to implement good governance and financial discipline from the start of their businesses, as these will put their companies in a competitive position to tap opportunities to partner with larger companies or to access the broader capital markets.
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References: http://www.jamaicaobserver.com/career/job-growth-soars-to-35-800-unemployment-rate-drops-to-12-2-_107509
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