Career & Education

Job growth soars to 35,800

...unemployment rate drops to 12.2%

Sunday, August 13, 2017

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State minister in the Ministry of Finance and the Public Service Fayval Williams has welcomed the results of the Labour Force Survey conducted in April 2017, which showed that 35,800 more individuals were employed in April 2017 when compared with the similar period in April 2016.

According to the survey, employment for both males and females increased for the review period.

The unemployment rate also dropped to 12.2 per cent in April. Comparatively, unemployment stood at 13.7 per cent in April 2016.

Speaking to the improvements outlined in the survey, Minister Williams said this is continued evidence that the economy is moving towards greater macroeconomic health.

Job growth is the ultimate test of an economy, Minister Williams said.

“These are encouraging trends. It means that we, both government and private sector, are doing many things right,” Minister Williams further said.

She continued: “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 further encouraged individuals to continue to prepare themselves through training for the job opportunities that are being generated in the economy.

She also encouraged entrepreneurs to embrace 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.

The Labour Market Survey, conducted by the Statistical Institute of Jamaica, also showed 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.

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