Dear Editor,
The recent report published by the Inter-American Development Bank (IDB) sheds light on the impressive progress that Guyana has made in reducing unemployment rates since 2021. This positive trend is undoubtedly a testament to the diligent efforts of the People’s Progressive Party Civic (PPP/C) government to upskill and train the workforce and protect Guyanese businesses through the oil and gas sector while stimulating economic growth in traditional sectors. Admittedly, the booming oil and gas sector has played a pivotal role in driving economic development in Guyana. The report highlights this sector as one of the primary drivers behind the decline in unemployment rates. With the arrival of the third floating, production, storage, and offloading (FPSO) vessel, Guyana’s Gross Domestic Product (GDP) is projected to grow significantly, further fueling job creation and economic prosperity for all Guyanese.
It’s also worth noting the government’s commitment to addressing unemployment through a multifaceted approach and initiatives like the part-time jobs program have been instrumental in helping individuals generate income and contribute to the overall reduction in unemployment. Moreover, the government has set a clear target of creating 50,000 jobs by 2025, demonstrating its dedication to this cause. In addition to these efforts, the government’s focus on skills development is a crucial aspect of reducing unemployment. Programs like the Board of Industrial Training (BIT) and the provision of over 20,000 scholarships for Guyanese have effectively enhanced the skillsets of the population, making them more employable and contributing to lower unemployment rates. Furthermore, Guyana’s commitment to diversifying its resources and investing in non-oil and sustainable sectors, such as agriculture, has resulted in substantial economic growth. The growth rates of key sectors like agriculture, services, and construction are indicative of the positive impact these investments are having on employment opportunities.
The government’s dedication to gender equality in employment is another commendable aspect of its strategy. Efforts to bridge the employment gap between men and women through initiatives like public sector scholarships, training programs, and increased participation of women in various sectors of the economy are vital steps toward achieving a more equitable workforce. Guyana’s remarkable progress in reducing unemployment rates is a testament to the PPP/C government’s dedication to economic growth and workforce development. With a thriving oil and gas sector, diversified resources, and comprehensive initiatives in place, Guyana is on a promising trajectory toward a more prosperous and equitable future for all citizens.
Sincerely,
Alvin Hamilton
