Labor Market Issues in the Caribbean: Scope to Mobilize Employment Growth

Author/Editor: Magda E. Kandil ; Genevieve Lindow ; Mario Mansilla ; Joel Chiedu Okwuokei ; Jochen M. Schmittmann ; Qiaoe Chen ; Xin Li ; Marika Santoro ; Solomon Stavis
Publication Date: July 01, 2014
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
Summary: The paper examines the determinants of employment growth, drawing on data available across a sample of Caribbean countries. To that end, the paper analyzes estimates of the employment-output elasticity and the response of employment growth to major sources of labor market determinants, in the long and short run. The main determinants of employment include government investment and private sector credit, while the major determinants of external performance are real effective exchange rate, the price of major exporting commodities, the number of tourists, and growth in major trading partners. The paper concludes with a menu of policy recommendations and structural reforms towards sustaining high employment growth and higher living standards in the Caribbean.
Series: Working Paper No. 14/115
Subject(s): Employment | Labor market characteristics | Gross domestic product | Business cycles | Economic reforms | Economic growth | Economic indicators | Unemployment | Job creation | Exports | Caribbean

Publication Date: July 01, 2014
ISBN/ISSN: 9781498387804/1018-5941 Format: Paper
Stock No: WPIEA2014115 Pages: 46
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