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 -