More Investment in People Will Reduce Unemployment – Wignall

President of the MSME Alliance, Donovan Wignall, says expending more on human capital is necessary to further reduce Jamaica’s unemployment rate.

The Statistical institute of Jamaica on Monday announced that the unemployment rate had fallen as at April compared to the initial rate recorded by the entity in January under its new system.

Nora-Gaye Banton reports.

Jamaica’s unemployment rate stood at 4.2 per cent as at April 2024. In January, 2024, it was 5.4 per cent.

Wignall says to further reduce the figure, more resources should be spent on human capital.

For his part, chairman of the Wisynco Group, William Mahfood noted that the current unemployment rate reflects a greater demand for workers in several industries to include tourism and business process outsourcing.

But Mr. Mahfood is also raising concern about the number of skilled Jamaicans leaving the nation’s shores each year. He cited as an example the number of truck drivers departing Wisynco.