Unemployment insurance review kicks up a gear

The feasibility study on unemployment insurance being undertaken by the Planning Institute of Jamaica (PIOJ) is “far advanced”.

Minister of Finance and Planning Dr Nigel Clarke said that social dialogue will be had across the country with various stakeholders for sensitisation and information purposes.

“We have to fine-tune that policy before bringing it to the Jamaican people,” Clarke said.

In recent weeks, government senators Don Wehby and Kavan Gayle have highlighted the importance of the long-promised unemployment insurance scheme.

Webhy had said that he would undertake personal oversight of the policy to ensure that it becomes a reality.

In his presentation to the State of the Nation debate in January, Gayle said many Jamaicans have been laid off during the pandemic because of the financial downturn.

“Some of them had to deplete their own personal savings and assets in order to survive. We need a system that acts as an automatic stabiliser by supporting spending power during periods of personal challenge or national economic downturn,” Gayle had said.