Labor Market Issues in the Caribbean: Scope to Mobilize Employment Growth

Magda Kandil, Genevieve Lindow, Mario Mansilla, Joel Chiedu Okwuokei, Jochen M. Schmittmann, Qiaoe Chen, Xin Li, Marika Santoro and Solomon Stavis

No 2014/115, IMF Working Papers from International Monetary Fund

Abstract: The paper examines the determinants of employment growth, drawing on data available across a sample of Caribbean countries. To that end, the paper analyzes estimates of the employment-output elasticity and the response of employment growth to major sources of labor market determinants, in the long and short run. The main determinants of employment include government investment and private sector credit, while the major determinants of external performance are real effective exchange rate, the price of major exporting commodities, the number of tourists, and growth in major trading partners. The paper concludes with a menu of policy recommendations and structural reforms towards sustaining high employment growth and higher living standards in the Caribbean.

Keywords: WP; employment growth; labor market; employment-output elasticity; business cycles; Caribbean; macro policies; structural reforms; private sector; elasticity estimate; government employment program; determination flexibility; job content; Employment; Labor markets; Unemployment rate; Unemployment; Labor force; Global (search for similar items in EconPapers)
Pages: 46
Date: 2014-07-01
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Citations: View citations in EconPapers (1)

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