The Phillip J Pierre administration is touting the lowest unemployment rates in 16 years. In A missive emanating from the office of the Prime Minister, the current unemployment rate has been quoted at 14%. The statement has attributed this number to a hiring surge in 2023, brought about by several foreign investment projects including the GPH Cruise Ports Development, the Marriott hotel, Dreams and Zoetry, Sandals la Toc expansion, Hyatt Hotel, Cabot Residences, Secrets Resorts and Spa Saint Lucia and the Cas-en-Bas Beach Resort.
Initiatives like the Youth Economy Agency and the MSME loan grant facility that have provided financial support and capacity building for small businesses have also contributed to a rise in local entrepreneurship. The St Lucia Chamber of Commerce, Industry and Agriculture has confirmed increased profitability and hiring during 2023.
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