Social protection specialist at the International Labour Organisation, Ariel Pino, has lamented that only two countries in the Caribbean have implemented unemployment insurance schemes.
Barbados and The Bahamas have instituted a long term unemployment benefits scheme.
Pinto told the Financial Report that the scheme is important in protecting a country's labour force in the event of loss of earnings or economic shock.
”The most common is through social insurance, which implies contribution through employers and employees - the government in some cases also contributes. The other alternative that we have , is that when it comes to the public sector - sometimes the government will take the cost of providing unemployment protection ….” He said.
Jamaica is conducting a feasibility study on the implementation of an unemployment insurance scheme in Jamaica. The study will be for one year, after which the findings will be submitted to cabinet.
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