Labour Market Forum 2010 - Planning Institute of Jamaica

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Growth of domestic capital at a faster rate than GDP and all other economic variables Developing the domestic capital sector generates externalities and internal linkages that enables: ⇒ Growth of employment ⇒ Growth in innovative goods & services ⇒ Diversification of our economy ⇒ Enhanced capacity to attract & benefit from FDIs ⇒ Savings of foreign exchange ⇒ Increasing export competitiveness ⇒ Improvement in our Balance of Payments ⇒ Reduction of our Debt Burden WHO will drive the growth of domestic capital? It is here that we can identify the pivotal role of MSMEs in the process of economic expansion 52
ROLE OF MSMEs IN ECONOMIC EXPANSION/TRANSFORMATION “Entrepreneurial” MSMEs It is the “Entrepreneurial” MSMEs (“E”MSMEs) who innovate and add value that will drive the growth of domestic capital and in turn, economic expansion and transformation ⇒ Most meaningful way to think about “MSMEs” and their role in economic expansion (transformation) is to focus on what they do and NOT their size ⇒ It is the ENTREPRENEURIAL ACTIVITY of the MSME that is the most important feature of what they do in the economic expansion process Global competitiveness requires “E”MSMEs to have business/managerial competencies derived mainly from: ⇒ Education/training; and/or ⇒ Experience and tacit knowledge (i.e., knowledge based on habits and culture that we often are not aware of… or the “natural” way we do things) This tacit knowledge is important since much of the operating knowledge of “E”MSMEs is TACIT 53
Page 1 and 2: Labour Market Forum 2010 Jobs for G
Page 3 and 4: 12:00 p.m. - 12:20 p.m. Mr. Benthan
Page 6 and 7: Gladstone Anthony Hutchinson, Phd D
Page 8 and 9: Professor Rosalea Hamilton Ba (Hons
Page 10 and 11: Mr. Wayne Chen Wayne Chen is the Ch
Page 12 and 13: Mr. Benthan H. Hussey, B.A., M.Sc.
Page 14 and 15: Jamaica Producers Group, Caribbean
Page 16 and 17: Introduction In a nutshell the labo
Page 18 and 19: evenues which led to the ending of
Page 20 and 21: Despite the aforementioned challeng
Page 22 and 23: Hence, while probably a moral and n
Page 24 and 25: in the brighter promise of the futu
Page 26 and 27: As Minister of Labour with portfoli
Page 28 and 29: e-launching its Labour Market Infor
Page 30 and 31: Professional Gaps in the Labour Mar
Page 32 and 33: “Jobs for Growth: The Trade Union
Page 34 and 35: perhaps most importantly, he argued
Page 36 and 37: and the equity considerations which
Page 38 and 39: to break with the system. It is equ
Page 40 and 41: jobs, quality jobs, decent work are
Page 42 and 43: pay and productivity, important fac
Page 44 and 45: formal contracts and work is usuall
Page 46 and 47: The rise of new Keynesian thinking
Page 48 and 49: “The Role of MSMEs in Economic Ex
Page 50 and 51: Development seen as the process of
Page 54 and 55: ⇒ It is this tacit knowledge that
Page 56 and 57: Traditional sector is not generally
Page 58 and 59: ⇒ Significant investment in capac
Page 60 and 61: Overview More than a Financial Cri
Page 62 and 63: Vocational and technical training/e
Page 64 and 65: A challenge to maintain the “Cari
Page 66 and 67: It is necessary to develop and publ
Page 68 and 69: Labour Productivity an Overview →
Page 70 and 71: The level of productivity, in turn,
Page 72 and 73: Jamaica’s Labour Market: Selected
Page 74 and 75: c) Time related (69,500 and 69,300
Page 76 and 77: Productivity & the Jamaican Economy
Page 78 and 79: Table 2: Annual average increase in
Page 80 and 81: Comparative Labour Statistics (Mini
Page 82 and 83: → No guiding philosophies (e.g.,
Page 84 and 85: Factors Contributing: Consistently
Page 86 and 87: Year Gini Coefficient Unit Labour P
Page 88 and 89: An Actual Performance Based Payment
Page 90 and 91: Elements of performance payments ar
Page 92 and 93: Should any 925 unit employee choose
Page 94 and 95: Policy Requirements: Data Standardi
Page 96 and 97: → In many instances, as soon as o
Page 98 and 99: The simple truth is that the Privat
Page 100 and 101: We have to also bear in mind that o
Page 102 and 103:
equire to be internationally compet
Page 104 and 105:
Where are the future job opportunit
Page 106 and 107:
employ thousands, but more importan
Page 108 and 109:
time-zone gives Jamaica an advantag
Page 110 and 111:
Education and Training Many Jamaica
Page 112 and 113:
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Page 114 and 115:
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Labour Market Forum 2010 - Planning Institute of Jamaica

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