BOJ says labor market conditions to worsen

The Bank of  Jamaica (BOJ), has projected labour market conditions will worsen over the next two quarters before improving in the subsequent quarters.

The average unemployment rate over the March 2021 to December 2022 quarters is projected to fall to 9.9 per cent.

The employed labour force is projected to grow year over year, even while the labour force is projected to increase marginally.

The anticipated increase in unemployment, particularly over the next four quarters is lower than the previous projection, reflecting the trend in unemployment outturns.

Notwithstanding the Central Bank says unemployment is anticipated to remain generally above pre-COVID levels.