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      • For the most part, the macroeconomic reforms and structural adjustments have been accompanied by negative or low growth, large fiscal deficits, high unemployment, and an unsustainable debt burden.
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  2. Oct 9, 2023 · An interesting development in Jamaica's labour market has been the convergence in unemployment rates between men and young women. This has been so significant that in July 2022, the...

  3. Apr 15, 2024 · Growth was driven by net exports from a record expansion in tourism and mining, while agriculture declined due to an extended drought. Rising economic activity brought the unemployment rate to a record-low 4.2 percent in October 2023. Poverty ($6.85 per day) declined from 13.9 in 2021 to an estimated 12.3 percent in 2023.

  4. Feb 22, 2022 · Jamaica Works to Maintain its Hard-Won Economic Stability. Prior to the pandemic, Jamaica had successfully stabilized the economy, turning a fiscal deficit of 11 percent of GDP in 2009 into a 1 percent surplus in 2019, and reducing public debt from 142 percent of GDP in 2009 to 94 percent by 2019.

  5. In 2020, the real GDP annual growth rate was -9.9, the highest rate of economic contraction since 2007, and the first contraction in growth since 2012. Also, the unemployment rate increased to 10.2 (annual average) in 2020. 1 ESSJ, 2019. Planning Institute of Jamaica (PIOJ).

  6. Apr 22, 2022 · Jamaica’s unemployment rate for January 2022 was 6.2 per cent, some 2.6 percentage points lower than reported a year earlier, according to the latest data released by the Statistical Institute of Jamaica (STATIN).

  7. Nov 19, 2023 · In April 2023, Jamaica hit a record low unemployment rate of 4.5 percent, underlining a shift from a decades long economic problem of surplus labour capacity. The current rate of less than 5 percent, defined by most economists as “full employment”, is unprecedented in Jamaica’s post-independence history, during which unemployment averaged ...