PIOJ Growth-Inducement Strategy - Planning Institute of Jamaica

FIGURE 7: GROSS NATIONAL SAVINGS RATE
20.0%
18.0%
16.0%
14.0%
12.0%
10.0%
8.0%
6.0%
4.0%
2004 2005 2006 2007 2008 2009
YEAR
4.9 Slower than anticipated recovery in the Global Economic Environment:
Slower than anticipated growth in the USA, coupled with instability associated with the
highly indebted European economies, may potentially have a negative impact on the
demand of goods and services produced by Jamaica thereby slowing the recovery process
.
4.10 Increase in Poverty: Poverty has increased to 16.5 per cent of the population in 2009 from
9.9 per cent in 2007 (see Figure 8). The increase in poverty since 2008 has effectively undermined the
declines observed over the past eight years. Poverty has increased in all regions since 2008 with KMA and
Rural Areas recording the largest increases. The employed labour force has declined by 79,600 persons
between January 2008 and April 2010.
Table 6.3. Poverty Rates (percent)
Region 2007 2008 2009 2010
KMA 6.2 7 12.8 n/a
Other Towns 4.0 10.7 10.2 n/a
Rural Areas 15.3 17.0 22.0 n/a
Jamaica 9.9 12.3 16.5 18.5 - 20.3
Source: Jamaica Survey of Living Conditions
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