#Kingston, July 23, 2019 – Jamaica – International Monetary Fund (IMF) Resident Representative, Dr. Constant Lonkeng Ngouana, says the reduction in Jamaica’s unemployment rate to 7.8 per cent is a “tremendous achievement”.
Noting
that the rate was approximately 16.3 per cent at the start of Jamaica’s current
engagement with the organisation in May 2013, Dr. Ngouana contends that “more
than halving this in six years is very significant”. He was commenting on the results of the
Statistical Institute of Jamaica (STATIN) April 2019 Labour Force Survey, which
were outlined during the agency’s recent quarterly briefing at The Knutsford
Court Hotel in New Kingston.
STATIN
reports that the 7.8 per cent out-turn is two percentage points lower than the
9.8 per cent recorded for the corresponding period last year, and 0.2 per cent
lower than the January 2019 out-turn.
The
number of unemployed persons as at April fell by 25,900, or 19.7 per cent, to
105,900 relative to 2018.
Correspondingly,
the overall employed labour force increased by 29,900 persons or 2.5 per cent
to 1,244,500, with the total labour force rising to 1,349,900 persons, some
4,000 more than 2018.
Dr.
Ngouana argues that the level of reduction in unemployment recorded thus far “is
not something that happens very often” in countries experiencing the extent of
economic challenges Jamaica faced.
“The
trend in the world has been that economies, after their crises, tend to have
jobless recoveries,” he notes.
The IMF Rep says in Jamaica’s case, the opposite has been occurring, where, while growth may not yet be at the desired level, a significant number of jobs are being created. Meanwhile, there is heightening stakeholder anticipation of further reduction in unemployment.
Jamaica
Employers’ Federation (JEF) President, David Wan, describes the latest figures
as “very positive”, citing activities in construction and business process
outsourcing (BPO) among the main drivers of job growth for the period.
“On the
whole, it seems like it [unemployment reduction] will continue, because we keep
hearing announcements of new projects coming on stream [particularly in]
construction,” he tells JIS News, pointing
to the potential for further job growth, particularly in tourism.
Mr. Wan
is of the view that these and other engagements will dovetail into the economic
growth figures, which rounded out at 1.7 per cent for the first quarter of the 2019
calendar year, between January and March, and 1.9 per cent for the 2018/19
fiscal year. He says regularisation of the informal or
“underground” economy will be a significant contributing factor to the out-turn
for job and economic growth.
“The
multilateral institutions have always said that there is a significant portion
of the Jamaican economy that is not being reported because of underground
activities. So I think it will contribute to the growth [of] jobs in particular.
I believe job creation may be a better proxy for the growth of the economy than
the gross domestic product (GDP) numbers,” the JEF President adds.
Newly elected
Jamaica Manufacturers and Exporters’ Association (JMEA), Richard Pandohie, says
further reduction in employment is cause for celebration. He, too, points to the construction and BPO
sectors as the main areas generating the growth in jobs and driving down
unemployment.
“We have
to laud more Jamaicans being put to work… that’s a good thing. What we have to ensure,
however, is that we are creating a sustainable model for that because
activities like construction won’t go on forever. So we have to make sure our
people are being trained to take on more value-added jobs… we have to make sure
we have a plan in place to move employees up the job value chain,’ Mr. Pandhoie
adds.
Jamaica
Chamber of Commerce Director, Warren McDonald, describes the latest
unemployment figures as “encouraging” and in keeping with overall economic
growth.
“I think
the rate, at 7.8 per cent, is a big improvement… and is reflective of the
confidence indices, which are still high and indicate that people are still
willing to invest in Jamaica, thereby creating more jobs,” he tells JIS News.
Mr.
McDonald argues that most persons and businesses would be “reasonably
satisfied” with the latest out-turns in growth and job creation, with
expectations of further improvements.
“I
anticipate that economic growth will improve and unemployment to further
decline, consequent on heightened activities in several sectors, including the construction
and BPO sector,” he adds.
By Douglas McIntosh
Release: JIS
Photo Captions:
Header:Jamaica Employers’ Federation (JEF) President, David Wan.
Insert: Jamaica Manufacturers and Exporters’ Association (JMEA) President, Richard Pandohie.
Words are in circulation in support for the establishment of an international tribunal, geared towards seeking reparations for centuries long transatlantic slave trade, after a CARICOM official made calls at the third session of the Permanent Forum on People of African Descent (PFPAD) in Geneva, Switzerland.
During day two of the gathering held from April 16 to 19, 2024, David Comissiong, Barbados Ambassador to the Caribbean Community, stated there is a need for the tribunal as there is currently no international court to deal with the issues of reparations.
Commision, like the other members that support his view, according to reports, are aware this won’t be an easy feat, as he expressed that establishing the tribunal would require a “positive decision” by the UN General Assembly, further calling on the officials at the Forum and the UN, to come together through international collaboration and “make this happen.”
The idea creation of the tribunal was born last year 2023, suggested by the PFPAD, now reiterated by Comissiong.
Antonio Guterres, the UN Secretary General, in a video, addressing the opening of the forum, supported the ongoing calls for respiratory efforts, a sentiment not shared by many.
Mentioning that racism is still an issue in today’s society, Guterres said, “ now we must build on that momentum, to drive meaningful change by ensuring that people of African descent enjoy the full and equal realization of their human rights; by stepping up efforts to eliminate racism and discrimination, including through reparations.”
The recent attack on the Sate of Israel by the Islamic Republic of Iran, has delivered growing uncertainty across the Caribbean region, and the rest of the global economy.
Chief among the many concerns, is the free flow of oil from the Middle East, which stands at 31% of daily production for the global economy. At minimum, shipping costs are likely to increase based on the increased risk of military action in the Persian Gulf.
Pressure is also building on US and European insurance clubs to avoid any transaction, including those with China, that involve Iranian crude and additional rerouting of oil and gas shipments in response to Houthi threats, or Allied responses.
According to the Caribbean Community Council of Foreign and Community Relations (COFCOR), “these developments not only exacerbate the already tense situation but also pose significant threats to regional stability and international peace,” the group warned in a media statement.
It added that the continued cycle of retaliation, including the recent attack on Israel by Hamas, Israel’s “disproportionate response” in Gaza, and the “alarming new dimension of direct confrontations between Israel and Iran, leads to an untenable situation fraught with potential for greater regional conflict and global instability.
“The human toll of this conflict, highlighted by tragic incidents such as deaths and injuries to children, demand an immediate and empathetic response from the global community. It is imperative that there be no further escalation that can lead to more suffering and instability,” it said.
While calling for an immediate cessation of hostilities between Israel and Iran, the regional body underscored that it strongly urges both nations to halt any further military actions that could worsen the situation, endangering not only their own populations but also the broader international community.
“We implore all parties to consider the severe consequences of further conflict and to commit to diplomatic solutions that ensure the safety, sovereignty, and dignity of all people involved,” the CARICOM statement said.
On October 6, 2023, the day before Hamas attacked Israel, the international benchmark Brent crude was trading at $85 per barrel and has been fluctuating at up to $96.
On Thursday, it traded at $91 per barrel. With the exception of gas-rich Trinidad and Tobago, the 14 other countries of CARICOM, are energy importers.
Approximately 93 percent of the region’s energy needs are met by oil imports, which average 13% of Gross Domestic Product (GDP).
Minister of Culture, Gender, Entertainment and Sport, Hon. Olivia Grange, says the Jamaican Government remains committed to seeking reparations for the prolonged period of chattel enslavement endured by the African forefathers on the country’s plantations.
Minister Grange said that the historical events of the transatlantic slave trade continue to have a lasting impact on Black communities to this day.
She contended that the ongoing struggles to finance education and healthcare, address poverty and housing issues, respond to economic shocks and climate change impacts, and foster peaceful societies are all rooted in the historical legacy of enslavement.
Minister Grange was addressing a church service on Sunday (April 14) at the Webster Memorial United Church in St. Andrew, where an apology was issued on behalf of the United Reform Church (URC) in the United Kingdom (UK) by Moderator of the Assembly of the URC, Reverend Tessa Henry-Robinson, for the church’s historical involvement in slavery.
“We, the general assembly of the United Reform Church, mindful of our own history and that of our antecedent bodies, wish to confess and apologise for our role in transatlantic slavery and the scars which continue to blight our society, our church and the lives of Black people in our midst and around the globe today,” the apology read.
Minister Grange, in accepting the apology, urged UK churches, particularly those whose representatives were present for the historic apology in Jamaica, to communicate to their government the ethical imperative of admitting culpability through an apology and working with Jamaica to discern the potential avenues for reparations.
She said that the church’s role in the transatlantic slave trade has had significant and enduring effects on Black communities, impacting society, the church itself, and the lives of Black individuals worldwide.
“It is this complicity of the church that gave solace and comfort to the citizens and governments of UK and Europe as they endorsed and defended with their military project, that saw the capture, the torture, the dehumanisation, and devaluation of African people, legacies of which we experience today as racism, white supremacy, and discrimination,” she stated.
“We struggle to build peaceful, stable societies because of the perpetration of violence which was the platform on which enslavement was executed yet, in spite of this, we have been good converts to these same religions. Our people have adopted and adapted the doctrines and rituals of these new religions and in many instances have energised and revitalised them with cultural practices of African spirituality,” the Minister emphasised.
The URC is a community of Christians gathering in local churches across England, Scotland, and Wales, and is part of the global family of Reformed Churches, comprising more than 70 million Christians.
With approximately 42,000 members in around 1,200 congregations, supported by more than 600 ministers, the URC plays a significant role in the spiritual and communal life of its members and the broader community.