Labour Market Forum 2010 - Planning Institute of Jamaica

and the equity considerations which must underpin the
prospects for growth if we are to truly realize the full meaning of
development, with all the attendant positive benefits for the
people of Jamaica.
When we examine the empirical evidence coming out of the
experiences of the workers of the world, the marginalized, the
poor and dispossessed, globalization has created more misery
than hope, and a deep sense of despair. It is primarily through
the labour market that the effects of globalization have been
felt particularly by the working class.
The manifestations of
increased import penetration, export sales, competition in
services, foreign direct investment and exchange rate
fluctuations prompted by international capital movements
have all had an impact on employment and labour earnings.
The common concern, of course, is that “cheap” labor and the
“race to the bottom” may well be the flip side of globalization.
To become more competitive, countries are told to dismantle
their trade barriers, abolish their legal monopolies, privatize their
36