US State Department report highlights Guyana's substantial informal economy

A recent Investment Climate Report released by the United States State Department has found that Guyana has a major informal economy that accounts for between 30 and 50 per cent of the job market.

The report, released this year, stated that this is in part attributable to the many Guyanese pursuing self-employment in unregulated jobs.

However, businesses continue to report significant challenges when it comes to staff recruitment and retention.

Noting, that the private sector has made repeated calls for immigration reform to increase the supply of skilled labour, the US report said companies entering Guyana should consider training and capacity-building opportunities for their employees.