Low Productivity: A threat to Jamaica’s economic growth

The low productivity of the Jamaican workforce is a huge challenge to sustainable economic growth and development. That’s according to Minister of Industry and Commerce, Audley Shaw.

Shaw pointed out that although there has been growth in the economy, there is still a lot of improvement needed where productivity is concerned. “We have to improve the productivity of the country so that our workers can get a better pay cheque that can enhance their own wealth in a [meaningful] way.” he said.

Minister of Industry and Commerce, Audley Shaw

He said the productivity of the workforce needs to be improved to maintain and heighten growth in the economy.

The minister was speaking at the launch of the initial public offering (IPO) by the alternative investment outfit, FirstRock Capital Holdings Ltd on January 9 in Kingston.

Minister Shaw said that improving productivity is key to the holistic development of the country. “With all of the problems that we have, there are far more opportunities than [challenges]. We can create wealth in Jamaica… and the more wealth we create is the less crime we will have; and the more human development that we enhance… is the less problems that we will have,” he argued