Labour Market Forum 2010 - Planning Institute of Jamaica

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The simple truth is that the Private Sector responds to and makes its decisions based on the country’s macroeconomic, regulatory and social environment as businesses and individuals act in their own economic self-interest. Therefore, policymakers have to ensure that planning for specific developmental goals such as Vision 2030, and in this specific case, the creation of jobs and economic opportunities for our people and an efficient and competitive labour market, recognizes the socio-economic reality of the majority of our country’s people. It is a given that the development of a competitive, efficient economy will depend on a highly productive workforce, among other factors. So a key component in building a workforce that can drive a prosperous, modern economy is education and training. The question that therefore arises is: What are the skills and competencies that we should train our people in? Policymakers should note that Jamaica’s current workforce is about 1.25 million of which about 145,000 are unemployed. 98
It should also be noted that the companies listed on the Jamaica Stock Exchange combined have significantly fewer than 100,000 employees or less than 10% of the employed workforce. If one were to add all the large private companies, the membership of the Private Sector Organisation of Jamaica, Jamaica Chamber of Commerce, and so on, the percentage would still be less than 20%. Similarly, the combined membership of all Jamaica’s trade unions is below 140,000. Again a relatively small number compared to the overall workforce. Employment in the Public Sector is under 120,000. So while we the leadership of the Private Sector, Labour and the State meet to make policy, we must be mindful that over 80% of the workforce are neither directly employed to us nor are members of our organizations. These are small businesses and self-employed persons, many of them in the informal economy, who are responding to the macroeconomic, social and regulatory environment in whatever way they can and doing whatever they have to. 99
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Labour Market Forum 2010 Jobs for G
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12:00 p.m. - 12:20 p.m. Mr. Benthan
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Gladstone Anthony Hutchinson, Phd D
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Professor Rosalea Hamilton Ba (Hons
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Mr. Wayne Chen Wayne Chen is the Ch
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Mr. Benthan H. Hussey, B.A., M.Sc.
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Jamaica Producers Group, Caribbean
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Introduction In a nutshell the labo
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evenues which led to the ending of
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Despite the aforementioned challeng
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Hence, while probably a moral and n
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in the brighter promise of the futu
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As Minister of Labour with portfoli
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e-launching its Labour Market Infor
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Professional Gaps in the Labour Mar
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“Jobs for Growth: The Trade Union
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perhaps most importantly, he argued
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and the equity considerations which
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to break with the system. It is equ
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jobs, quality jobs, decent work are
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pay and productivity, important fac
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formal contracts and work is usuall
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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 52 and 53: Growth of domestic capital at a fas
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 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: - End - 112
Page 114 and 115: → → 114
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Labour Market Forum 2010 - Planning Institute of Jamaica

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