December 16, 2022
With new data from the Economic Commission for Latin America and the Caribbean (ECLAC) finding that most job growth since the pandemic began has been in the informal sector, which jumped by as much as 70 percent since 2019, the CEO of a regional recruitment service is urging responsible bodies to bring the matter under control.
“Job informality represents a serious problem. While it is good that people are finding a way to work and earn an honest living no matter how badly the pandemic impacted them, informality only results in more vulnerability down the line,” said Joseph Boll, CEO of Caribbean Employment Services Inc., a market-leading digital talent acquisition service.
Caribbean Employment aims to connect the top talent from the Caribbean with hiring managers, HR professionals and decision-makers in companies both within the Caribbean as well as abroad. Further, it aims to provide the region’s jobseekers and those who are already employed with news and resources related to Caribbean labour.
Boll continued, “I have spoken highly of the resilience of Caribbean people and governments, especially in light of economic devastation that most experts believed would have kept the region economically struggling for years. It is true that the region and its citizens have bounced back even quicker than most expected. But it’s also true that a high percentage of job informality could jeopardize that, since it leaves people even more vulnerable and dependent on their respective governments for support.”
Informal jobs include occupations like street vendors, beach hair braiders, gig workers, people performing odd jobs or for-hire jobs and similar occupations. While formal employment provides workers with financial security in the form of stable income, health and other insurance coverage and even guaranteed pension, informal labour often fails to provide workers with this support. This leaves informal workers extremely vulnerable and susceptible to external shocks. Further, that vulnerability is compounded by the fact that most categories of informal workers are already those who are most vulnerable in society, and who could most benefit from the security of formal employment.
However, Boll maintained that there has been significant job growth in the formal sector. He emphasized that informal workers can easily access online jobs boards like Caribbean Employment Services Inc. to help find steady employment rather than leaving it up to chance or “relying on who you happen to know who can get you a job”. Additionally, he spoke to the need for more affordable or subsidized training programmes and entrepreneur development initiatives that could help residents enter the formal labour market.