Jamaica Employers Federation welcomes Government’s intention to address Jamaica’s productivity crisis
The Jamaica Employers Federation (JEF) has welcomed the Government’s intention to address Jamaica’s productivity crisis.
The Association in a statement says it notes Prime Minister Andrew Holness’ announcement on Sunday that the Government will be placing special emphasis on improving Jamaica’s low rates of productivity.
The JEF says Jamaica’s total factor productivity (TPF) is among the lowest in the Latin America and Caribbean region and labour productivity has decreased by an average rate of 0.9 per cent per annum since 2001.
JEF President, Wayne Chen says Jamaica’s low and decreasing productivity rates, qualify as a crisis and the country will not achieve robust and sustainable economic growth without a focused programme of productivity improvement.
Mr Chen says much has been said on this issue in the past but significant roadblocks, notably public sector compensation have now been removed and a window of opportunity has opened.
He is calling for greater coordination among organizations to improve productivity.