📉 Cayman Islands government under fire for lack of unemployment strategy

Opposition Leader Roy McTaggart has criticized the Cayman Islands government for lacking a coherent strategy to tackle the rising local unemployment rate. Recent data from the Economic and Statistics Office shows the number of jobless Caymanians has risen from 3.6% to 5%. McTaggart expressed his concerns in a video statement, pointing out that the number of unemployed Caymanians is almost the same as it was in March 2022, when the country was still in lockdown due to the COVID-19 pandemic. 📊

McTaggart further criticized the government's recently released Strategic Priorities report, stating it lacked any meaningful strategy for economic and job growth. He attributed the rising unemployment rate, cost of living crisis, and falling living standards to the government's inaction. McTaggart urged the government to focus on creating a thoughtful strategy to grow the economy and create jobs that benefit Caymanians. 🏦

Despite the criticism, McTaggart also noted some puzzling figures in the Economic and Statistics Office's latest report. The high under-employment level that was highlighted last year has reportedly dropped. However, McTaggart remains cautious, suggesting this could mean either that Caymanians are getting the work hours they need or that businesses are cutting part-time jobs to stay afloat. 🤔