Growth in Jobs Outpacing Labour Force

Bank of Jamaica Governor, Brian Wynter, says employment is beginning to outpace the growth of the labour force.

This means the economy is producing a record number of jobs but the rate of growth in the labour force to assume the jobs being created is lagging behind.

Governor Wynter says while the growth in jobs is heartening, the rate of growth in the skilled labour force is lagging behind.

He says this has the potential of stifling economic growth.

The Central Bank Governor was speaking today at the bank’s quarterly briefing for the July to September quarter. He says the problem is still two years away but corrective measures must be taken now.

And the BOJ Governor says inflation remains within expected ranges and the country’s current account balance remains positive.

Governor Wynter also noted the continued stability of the Jamaican Dollar.

Governor Wynter also says all economic factors are moving in the right direction; pointing toward a stable and growing economy.