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Labor Market Issues in the Caribbean: Scope to Mobilize Employment Growth
Author:
Ms. Magda E. Kandil
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Mrs. Genevieve M Lindow
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Mr. Mario Mansilla
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Mr. Joel Chiedu Okwuokei
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Jochen M. Schmittmann null

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Qiaoe Chen null

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Xin Li null

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Marika Santoro null

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Solomon Stavis null

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Series:
IMF Working Papers
Volume/Issue:
Volume 2014: Issue 115
Language:
English
Publication Date:
01 Jul 2014
DOI:
https://doi.org/10.5089/9781498387804.001
ISBN:
9781498387804
ISSN:
1018-5941
Pages:
46
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
Legal-disclaimer:
IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund