NASSAU, BAHAMAS — With the International Monetary Fund (IMF) reporting favourable economic prospects for the near-term in the country, Caribbean Employment Services Inc. CEO Joseph Boll is encouraging businesses looking to recruit to use all of the resources available at their disposal.
He made the comments on the heels of the IMF reporting the lowest unemployment in the country in nearly two decades. However, the IMF also acknowledged that record-low unemployment figures could be a result of low labour force participation rather than exclusively due to more job prospects — although it granted that strong tourism recovery has driven a robust economic rebound.
“The pandemic wreaked havoc on employment, so it’s wonderful to see conditions recovering,” said Boll, who heads the market-leading digital talent acquisition service that connects jobseekers in the Caribbean with employers both in the region and around the world. “Now, while the labour force seems to be in a positive position, it could be a great time to also do any recruiting you had planned and to also take advantage of all of the resources available to assist with that.”
The IMF projected positive economic prospects for the immediate future, especially with tourism continuing to rebound and contingent upon government initiatives. However, it added that risks remain despite the positive forecast. Simultaneously, the World Bank has projected that the country will see among the lowest GDP growth in the region this year.
For Boll, this means it could be the ideal time to strike while the iron is hot.
“It’s a competitive market right now, but there is also opportunity for more people to join the labour force if they heed the signs that economic prospects have improved since the pandemic,” Boll said. “Brands that want to recruit and win over the best talent and attract new workers should make their move now to get in the best position for the future, and Caribbean Employment Services is happy to provide dedicated support to help them achieve that.”
