Labour Market Forum 2010 - Planning Institute of Jamaica
Labour Market Forum 2010 - Planning Institute of Jamaica
Labour Market Forum 2010 - Planning Institute of Jamaica
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pay and productivity, important factors in determining quality<br />
jobs.<br />
And while our Vision 2030 Development Plan is<br />
recognizing redundancy payments as one <strong>of</strong> the rigidities in our<br />
labour market, a restrictive labour practice which affects our<br />
ability to be competitive, the Global Competitive Report noted<br />
that <strong>of</strong> all the factors that are most problematic for doing<br />
business in <strong>Jamaica</strong>, “restrictive labour practices” scored a<br />
mere 1.4%.<br />
The Centre for Entrepreneurial Studies in Babson College, USA<br />
conducted a research which results showed that job creation<br />
in small and medium size firms is a necessary requirement for<br />
economic growth.<br />
But to ensure that the turbulence which<br />
results from workers moving from job to job will not have a<br />
negative impact on the labour market, and by extension<br />
economic growth, the study points to appropriate policy<br />
measures which should be<br />
put in place to maintain the<br />
flexibility <strong>of</strong> the market. These policy measures, according to<br />
the study, should include unemployment compensation for<br />
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