-Dr. Jagdeo says; emphasises administration’s promise to reduce unemployment

GUYANA’S unemployment rate has seen a significant decline, a development credited to the current administration’s aggressive efforts in expanding various economic sectors and creating job opportunities.

People’s Progressive Party (PPP) General Secretary, Dr. Bharrat Jagdeo, highlighted these accomplishments during his weekly press conference on Thursday, emphasising the nation’s progress in addressing unemployment, particularly among its youth.

Dr. Jagdeo noted that since the current government took office in 2020, the country has created approximately 60,000 new jobs, a stark contrast to the previous administration’s five-year term, which saw a significant loss in employment.

“We had a massive loss of jobs in the period up to 2020, in those five years. We now have 60,000 more people working,” Dr. Jagdeo stated.

He also pointed out that some regions are now facing labour shortages, a testament to the improved employment landscape.

According to various reports, much of this success is owed to the booming oil and gas sector, which has been a major driver of economic growth and job creation.

The 2023 Inter-American Development Bank (IDB) report, titled ‘Regional Overview: Global and Regional Economies at a Crossroads’, supports this view, noting the sector’s pivotal role in reducing unemployment.

Additionally, the government’s part-time jobs initiative has been instrumental in generating income for many Guyanese, particularly in rural and hinterland regions. More than 15,000 citizens have benefitted from this programme in 2023 alone.

Critical investments in hinterland communities have also played a crucial role in job creation. Throughout the last four years some 6,000 job opportunities have been created in these regions, driven by initiatives such as the revitalised Youth Entrepreneurship and Apprenticeship Programme (YEAP) and the employment of nearly 2,700 Community Service Officers (CSOs). Furthermore, another 3,000 individuals have found income opportunities through the part-time jobs programme.

The government has also awarded numerous contracts to small contractors in the hinterland, focusing on infrastructure projects that have further boosted employment prospects in those areas.

The creation of over 50,000 jobs nationwide in the past four years marks a significant milestone for the current administration, fulfilling and even exceeding its 2020-2025 Manifesto promise of creating 50,000 new jobs by the end of its first term.

Dr. Jagdeo reiterated that this progress showcases the effectiveness of the government’s policies and its dedication to improving the livelihoods of Guyanese citizens.

As the administration continues its efforts, the country’s unemployment rate is expected to decline further, ensuring more economic stability and growth for Guyana.