Remittance inflows to Jamaica could stagnate or decline as the US economy and employment market show signs of weakening.
Jamaica received approximately US$1.5 billion in remittances during the first five months of this year, with about 68 per cent of the country's remittance inflows coming from Jamaicans living and working in the United States.
The outlook is being clouded by recent weakness in the US labour market.
The US economy lost about 23,000 jobs in July, despite projections for the creation of approximately 100,000 jobs.
Meanwhile, research conducted Market Research Services found that the proportion of Jamaican households receiving remittances declined in the second quarter.
The survey found that 27 per cent of Jamaican households are now receiving remittances, down from 30 per cent five years ago.
The figures come against the backdrop of strong remittance flows across the wider region.
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