IMF says Jamaica’s reduction in unemployment rate ‘a tremendous achievement’

Dr. Constant Lonkeng Ngouana, Resident Representative of the International Monetary Fund (IMF), has described the reduction in Jamaica’s unemployment rate to 7.8 per cent as a tremendous achievement.

Noting that the rate was approximately 16.3 per cent at the start of Jamaica’s current engagement with the organisation in May 2013, Dr. Ngouana contended that slashing the figure by more than half in six years is significant.

Dr. Ngouana argued that the level of reduction in unemployment recorded is not something that happens very often in countries experiencing the extent of economic challenges Jamaica faced.

He said the trend in the world has been that economies, after their crises, tend to have jobless recoveries.

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