Youth Informality: Formalizing the informal youth - Innovative experiences in Jamaica

The Jamaican economy is characterised by persistent stagnation with an annual growth rate of 0.53% over the period 1999-2014. The economic crisis of 2008 saw the collapse of the bauxite and alumina, declines in remittances and stagnation in the tourism industry. FORLAC reports that over the period 2006-2011 exports averaged 30% of GDP and imports 47%.

Tourism and remittances from Jamaican migrants are the chief earners of foreign currency. Unemployment has been increasing since 2008 and particular impact on youth unemployment which is twice the annual rate. Liberalization and austerity measures have consistently failed to produce economic growth, and instead have led to balance of trade deficits and an erosion of the government’s ability to provide social protection services and to stimulate economic growth.

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  • ISBN: 978-92-2-129700-0