Opposition concerned about slow economic growth

by July 19th, 2019

The Opposition People’s National Party has raised concern over the slow growth in the economy.

 

Opposition Spokesman on Finance Mark Golding, welcomed the drop in the rate of unemployment, but expressed concern that over 700,000 people are still outside of the labour force.

 

He says the figure includes over 250,000 discouraged persons who have given up looking for work.

 

Overall, youth unemployment was measured at 19.5% with female youth unemployment higher at 25 %.

 

Mr. Golding says aggregate demand remains weak because much of the labour force is earning low wages, failing to drive growth and inflation to levels targeted by the government.

 

The Opposition spokesman on finance says the country’s low-wage economy flows from under-investment in the nation’s human capital, falling productivity, and low valued-added jobs.