OPM reports record job numbers in St Lucia

The Office of the Prime Minister in Saint Lucia reported that 2023 was a standout year for job creation in the country, with the unemployment rate dropping to a record low of 14%. This positive trend was attributed to the leadership of Prime Minister Hon. Philip J Pierre, who has been in office since July 2021. The quarterly unemployment rate consistently improved throughout the year compared to 2022, showcasing the success of Prime Minister Pierre’s policies in stimulating economic activity and creating job opportunities for ordinary Saint Lucians.

Since Prime Minister Pierre took office, Saint Lucia has experienced a significant decrease in the unemployment rate each year. In 2021, the rate stood at 21.9%, dropping to 16.5% in 2022, and further declining to 14% in 2023. The government, under Prime Minister Pierre’s leadership, has been able to finalize various foreign investment projects that have contributed to the economic momentum seen in 2022. These projects include developments such as Global Ports Holdings Cruise Port, Marriott Hotel, Dreams & Zoetry, Sandals La Toc, Hyatt Hotel, and more. The start of these projects has led to increased employment opportunities for Saint Lucians in 2023.

The government is also focusing on supporting small businesses in Saint Lucia, recognizing their importance in economic development. Initiatives such as the Youth Economy Agency and MSME Loan-Grant Facility aim to provide resources, training, soft loans, and grants to youth and local entrepreneurs to help them fund their ideas and achieve their goals. The Saint Lucia Chamber of Commerce, Industry, and Agriculture has reported that its members experienced increased profitability and hired more workers in 2023. Prime Minister Pierre and his Cabinet are committed to implementing economic policies that attract foreign investment, stimulate wealth creation, and encourage economic growth to further reduce unemployment in the country.

The positive economic comeback post-Covid has also benefited local businesses in Saint Lucia, with more workers being hired and increased profitability reported in 2023. The government’s support for the Micro, Small, and Medium Enterprise (MSME) sector is seen as crucial for fostering economic growth and providing opportunities for the youth and local entrepreneurs. Prime Minister Pierre’s leadership has inspired confidence in the local economy and has led to a wave of development projects that are creating job opportunities for Saint Lucians.

Overall, Saint Lucia is experiencing a positive trend in job creation and economic growth under the leadership of Prime Minister Pierre. The government’s focus on attracting foreign investment, supporting small businesses, and implementing the right mix of economic policies has contributed to the significant decrease in the unemployment rate. As the country continues to recover from the impacts of Covid-19, Prime Minister Pierre and his government remain committed to driving unemployment down further and ensuring a prosperous future for all Saint Lucians.