More job losses in ‘private sector’ likely

Central Bank governor Cleviston Haynes expects more private sector job losses as the COVID-19 pandemic sticks around.

However, the seasoned economist does not anticipate that public sector workers will find themselves on the breadline.

Haynes gave these responses to a question yesterday during his half-year press conference at the Courtney Blackman Grand Salle.

In his outlook for the rest of the year, the governor said more private sector job losses were likely.

“The reopening of borders will enable some businesses to restart their operations and re-engage employees currently relying on unemployment insurance. However, some additional job losses can be expected as firms adapt to the reduced economic activity and uncertainty.”

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