Prime Minister Philip J Pierre and the government are crafting policies to encourage private sector growth, aiming to create more jobs and help more St Lucians achieve financial freedom through well-paying employment.
Employment allows individuals to support themselves and their families. For poor and low-income households, securing a job is a key step toward financial stability and an improved quality of life.
The Central Statistical Office’s latest quarterly employment report shows that the job market had a strong start this year. St Lucia recorded the lowest unemployment rate for the first quarter in over 15 years. Unemployment averaged 11.4% between January and March 2024, down from 13.6% in the previous fourth quarter.
Since July 2021, the government has launched initiatives such as the Youth Economy Agency, the MSME Loan-Grant Facility, and the Community Tourism Agency to support local entrepreneurs in growing their businesses.
Targeted government policies, including VAT amnesties, tax reforms, business incentives, and an increase in foreign direct investment under Prime Minister Pierre’s leadership, continue to reduce unemployment and boost economic growth.
Source: St Vincent Times
Photo Credit: Government of St Lucia
