After four decades of little or not growth, the Jamaican economy is expected to grow at 1-2% over the medium term. The country is confronted by serious social issues that predominantly affect youth, such as high levels of crime and violence and high unemployment.
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• Region to grow at 3.0 percent in 2012, in line with sharp global growth decline • Reduced earnings inequality, low unemployment and more stable real wages, key features in LAC’s new faceWASHINGTON,... Show More + Oct. 3, 2012 – This year, the Latin America and the Caribbean region (LAC) will be growing at 3.0 percent, more in line with global trends. But even with Gross Domestic Product (GDP) beginning to slow, the region’s unemployment rate stood at 6.5 percent last year, approaching historic lows and well below its peak of 11 percent a decade ago, according to the latest semiannual report “The Labor Market Story Behind Latin America’s Transformation," by the World Bank’s Office of the Chief Economist for the region.The report complements, at the regional level, the recently launched World Bank’s World Development Report on Jobs and Development.Current consensus forecasts envisage that Latin America’s GDP will grow at 3.8 to 4 percent in 2013, after having expanded 6 percent i Show Less -
February 23, 2011 – An estimated 210 million people are out of work worldwide, the highest level of unemployment ever recorded. Twelve months after a devastating earthquake, nearly one million Haitians... Show More + still live in tents or other temporary shelters. Food prices are spiking beyond the levels of the 2007-2008 food crisis, and the Arab world faces sweeping political change.People worldwide face greater uncertainty at a time when family support and other traditional safety nets have eroded. To better protect people in low- and middle-income countries from economic and social risks and boost their resilience, the World Bank is devising a new social protection and labor strategy that will guide its work with countries and development partners during the next 10 years.The Bank, which has just announced the start of its first round of global strategy consultations, views effective social protection and labor programs as central to its poverty-fighting, opportunity-creating development mission Show Less -