MOU to produce ‘more, better and timely labour market information for SVG’

A memorandum of understanding was signed by three agencies last week, in an effort to regulate labour market information that is available to policy makers and the wider public.{{more}}

Heads of the National Insurance Services, Central Statistical Office and Labour Commission signed a MOU on Friday, with regard to the Labour Market Information System (LMIS) in St Vincent and the Grenadines.

While speaking at the stakeholder meeting on Friday, coordinator of the LMIS for this country Steve Stewart highlighted what was outlined in the MOU.

“This event which we’re about to witness marks a very important turning point as far as the development of the St Vincent and the Grenadines labour market information is concerned,” Stewart said.

“Having up to date and regular labour market information will then allow Vincentians to understand better how economic growth and wealth creation does or does not properly translate into human development; plan, monitor and compare achievements in these areas, inform us on how we progress in providing quality work for all, improved productivity and develop our economy with equity”.

The coordinator explained that the global economic crisis in 2009 had significant impact where agencies must expand their efforts to produce more and better labour market information.

As a result, Stewart noted that achievements that are expected under the MOU include producing “more, better and timely labour market information for St Vincent and the Grenadines, its people, government, employers, workers, trade unions and civic society organizations”.

In addition, it is expected to forge and formalize national consensus on a national plan of action, which is aimed at making more efficient use of human financial and other resources, avoiding duplication of data sources, making data sources more complimentary, considering various methodology and techniques, sharing infrastructure, particularly in the area of information, communication and technology, and strengthening the role and impact of our national statistical capacity, particularly of the central statistical services.

Furthermore, mobilizing financial resources, as well as producing and disseminating labour market information is expected to be achieved under the MOU.

Stewart indicated that stakeholders had certain obligations in order to achieve the various objectives.

He noted that these obligations included formalizing “the consensus on the data sources for labour market information, to assign responsibility for specific labour market indicators or other labour market information specified…to international agencies” and “to collaborate, to provide regular labour market information needed to conduct labour market anlysis reports and to jointly operate and maintain the internet based one window dissemination facility”.

Additionally, the coordinator revealed operational mechanisms which were put in place to execute the plan of action.

These include a steering committee, which is made up of the tripartite agencies, a stakeholder committee which would include representatives of all participating agencies, institutions and organizations that also provide data.

“It will have as well the technical task force, which will comprise of agency officers responsible for producing and maintaining labour market information at the agency level,” Stewart said.

More information about the LMIS and information regarding policies of the key agencies can be found on the Department of Labour’s website; www.dol.gov.vc