The highest number of employed Caymanians since 2007 – that was one of the positive consequences of Cayman’s growing economy, according to the Premier.
In his New Year’s message, Hon. Alden McLaughlin highlighted the islands’ job growth and reduced unemployment. He said the country’s future prospects look bright for 2019.
“Growth will continue this year and bring more opportunities for Caymanian businesses and the Caymanian people,” Mr. McLaughlin said.
He added: “We are moving forward with the development of Workforce Opportunities and Residency Cayman, or WORC for short. The objective of WORC is to oversee the labour market, including the work permit and residency regimes and to ensure that all Caymanians have a fair opportunity.”
The last recorded data for employment was filed by the Economics and Statistics Office in September for Spring 2018, which showed an increase of 2.4 % from the same time in 2017, with nearly 21,000 Caymanians in jobs.
Mr. McLaughlin also singled out the private sector as a contributor to economic growth. He praised Cayman Enterprise City and TechCayman for “embracing opportunity”.