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The Aftermath of the 2008 Global Financial Crisis in the Eastern Caribbean : The Impact on the St Lucia Labor Market

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dc.contributor.authorGimenez, Lea
dc.contributor.authorSt. Catherine, Edwin
dc.contributor.authorKarver, Jonathan
dc.contributor.authorOdawara, Rei
dc.date.accessioned2015-03-13T14:58:32Z
dc.date.available2015-03-13T14:58:32Z
dc.date.issued2015-03
dc.description.abstractThis brief expands the scarce literature on the impact of the global financial crisis on labor market outcomes and welfare in the Organization of Eastern Caribbean States (OECS). The brief focuses on the economy of St. Lucia, one of the OECS member states. The statistical information assembled here should help decision makers and the public in the OECS to develop policy options that can sustain job creation and thereby enhance public welfare. It also can help gauge the effectiveness of policies over time. The evidence presented in this brief shows how the recent financial crisis had significant and long-lasting negative impacts on the welfare of St. Lucians. The government of St. Lucia attempted to use fiscal policy to boost growth and enhance labor market opportunities in the island. Still, unemployed and underemployed St. Lucians together accounted for over 40 percent of the working-age employable population. They suffered a significant decline in welfare in the aftermath of the crisis. They lost not only their income but also the collateral benefits that are often associated with being fully employed in good quality jobs in the “formal” sector of the economy.en
dc.identifierhttp://documents.worldbank.org/curated/en/2015/03/24141333/aftermath-2008-global-financial-crisis-eastern-caribbean-impact-st-lucia-labor-market
dc.identifier.doi10.1596/21602
dc.identifier.urihttps://hdl.handle.net/10986/21602
dc.languageEnglish
dc.language.isoen_US
dc.publisherWorld Bank Group, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectACCESS TO INSURANCE
dc.subjectACCOUNTING
dc.subjectACTIVE LABOUR
dc.subjectACTIVE LABOUR MARKET
dc.subjectACTIVE LABOUR MARKET PROGRAMS
dc.subjectADULT WORKERS
dc.subjectADVANCED ECONOMIES
dc.subjectADVERSE IMPACT
dc.subjectAGE GROUP
dc.subjectAGE GROUPS
dc.subjectAGRICULTURAL SECTOR
dc.subjectAGRICULTURE
dc.subjectASSET OWNERSHIP
dc.subjectBANKING SYSTEM
dc.subjectBANKS
dc.subjectBORROWING
dc.subjectBUSINESS DEVELOPMENT
dc.subjectCENTRAL BANK
dc.subjectCOLLATERAL
dc.subjectCOMPETITIVENESS
dc.subjectCOMPUTER LITERACY
dc.subjectCREDIT CRUNCH
dc.subjectCURRENT POPULATION
dc.subjectCUSTOMER SERVICE
dc.subjectDEBT
dc.subjectDEBT BURDEN
dc.subjectDECISION MAKING
dc.subjectDELINQUENCY RATES
dc.subjectDEMOGRAPHIC TRENDS
dc.subjectDEVELOPMENT BANK
dc.subjectDEVELOPMENT CENTER
dc.subjectDIVERSIFICATION
dc.subjectEARNING
dc.subjectECONOMIC ACTIVITY
dc.subjectECONOMIC CONDITIONS
dc.subjectECONOMIC CRISIS
dc.subjectECONOMIC GROWTH
dc.subjectECONOMIC OUTLOOK
dc.subjectECONOMIC SECTORS
dc.subjectECONOMIC SHOCKS
dc.subjectEDUCATION LEVEL
dc.subjectEDUCATIONAL ATTAINMENT
dc.subjectELDERLY
dc.subjectEMPLOYEE
dc.subjectEMPLOYER
dc.subjectEMPLOYERS
dc.subjectEMPLOYMENT
dc.subjectEMPLOYMENT LEVEL
dc.subjectEMPLOYMENT OPPORTUNITIES
dc.subjectEMPLOYMENT PROGRAM
dc.subjectEMPLOYMENT PROSPECTS
dc.subjectEMPLOYMENT STATUS
dc.subjectEXPENDITURE
dc.subjectEXPENDITURES
dc.subjectEXPLOITATION
dc.subjectEXPORTS
dc.subjectFARMERS
dc.subjectFEMALE EMPLOYMENT
dc.subjectFINANCIAL CRISIS
dc.subjectFINANCIAL RESOURCES
dc.subjectFINANCIAL SERVICES
dc.subjectFISCAL DEFICITS
dc.subjectFISCAL POLICIES
dc.subjectFISCAL POLICY
dc.subjectFOCUS GROUP DISCUSSIONS
dc.subjectFOREIGN DIRECT INVESTMENT
dc.subjectFORMAL EDUCATION
dc.subjectGDP
dc.subjectGENDER
dc.subjectGOVERNMENT POLICIES
dc.subjectGOVERNMENT PROGRAMS
dc.subjectGOVERNMENT SECURITIES
dc.subjectGROSS DOMESTIC PRODUCT
dc.subjectHEAD OF HOUSEHOLD
dc.subjectHEALTH CARE
dc.subjectHIGHER EDUCATION LEVELS
dc.subjectHOUSEHOLD ASSETS
dc.subjectHOUSEHOLD CHARACTERISTICS
dc.subjectHOUSEHOLD LEVEL
dc.subjectHOUSEHOLD SIZE
dc.subjectHOUSEHOLD SURVEY
dc.subjectHOUSEHOLD WEALTH
dc.subjectHUMAN CAPITAL
dc.subjectINCOME
dc.subjectINCOME LEVELS
dc.subjectINEQUALITY
dc.subjectINFANT
dc.subjectINFLATION RATE
dc.subjectINSURANCE
dc.subjectINTERNATIONAL LABOR ORGANIZATION
dc.subjectINTERPERSONAL SKILLS
dc.subjectJOB CREATION
dc.subjectJOB MARKET
dc.subjectJOB OPPORTUNITIES
dc.subjectJOB PLACEMENT
dc.subjectJOB SEEKERS
dc.subjectJOBS
dc.subjectLABOR CODE
dc.subjectLABOR FORCE
dc.subjectLABOR FORCE SURVEY
dc.subjectLABOR MARKET
dc.subjectLABOR MARKET CHARACTERISTICS
dc.subjectLABOR MARKET INDICATORS
dc.subjectLABOR MARKET NEEDS
dc.subjectLABOR MARKET OUTCOMES
dc.subjectLABOR ORGANIZATION
dc.subjectLABORERS
dc.subjectLABOUR MARKET CONDITIONS
dc.subjectLENDING REQUIREMENTS
dc.subjectLEVEL OF ASSET
dc.subjectLEVEL OF EDUCATION
dc.subjectLEVELS OF EDUCATION
dc.subjectLIFE SKILLS
dc.subjectLIQUIDITY
dc.subjectLOAN
dc.subjectMACROECONOMIC CONDITIONS
dc.subjectMACROECONOMIC CONTEXT
dc.subjectMACROECONOMIC SHOCKS
dc.subjectMATERNITY LEAVE
dc.subjectNATIONAL AUTHORITIES
dc.subjectNATIONAL INCOME
dc.subjectNATIONAL LEVEL
dc.subjectNATIONAL UNEMPLOYMENT
dc.subjectNATIONAL UNEMPLOYMENT RATES
dc.subjectNATURAL DISASTERS
dc.subjectNOMINAL INCOME
dc.subjectNUMBER OF WORKERS
dc.subjectOCCUPATION
dc.subjectOLDER AGE GROUPS
dc.subjectPERSONAL DEVELOPMENT
dc.subjectPERSONAL EMPOWERMENT
dc.subjectPOPULATION GROWTH
dc.subjectPRESS RELEASE
dc.subjectPRIMARY EDUCATION
dc.subjectPRIMARY SCHOOLING
dc.subjectPRIMARY SOURCE
dc.subjectPRIVATE CREDIT
dc.subjectPRIVATE SECTOR
dc.subjectPRIVATE SECTOR EMPLOYEES
dc.subjectPROGRESS
dc.subjectPUBLIC INFORMATION
dc.subjectPUBLIC INVESTMENT
dc.subjectPUBLIC SECTOR EMPLOYMENT
dc.subjectPUBLIC WELFARE
dc.subjectREAL ESTATE
dc.subjectREAL GDP
dc.subjectREAL WAGES
dc.subjectRECEIPTS
dc.subjectRECESSION
dc.subjectREMITTANCES
dc.subjectRESPECT
dc.subjectRETAIL TRADE
dc.subjectRETIREMENT
dc.subjectRURAL AREAS
dc.subjectSAFETY
dc.subjectSAFETY NET
dc.subjectSECONDARY EDUCATION
dc.subjectSECONDARY SCHOOLING
dc.subjectSELF-EMPLOYMENT
dc.subjectSERVICE SECTOR
dc.subjectSEVERANCE PAYMENTS
dc.subjectSHORT TERM EMPLOYMENT
dc.subjectSICK LEAVE
dc.subjectSINGLE MOTHERS
dc.subjectSKILL DEVELOPMENT
dc.subjectSKILLED WORKERS
dc.subjectSMALLER HOUSEHOLDS
dc.subjectSOCIAL PROGRAMS
dc.subjectSOCIAL SECURITY
dc.subjectSOCIAL SERVICES
dc.subjectTAX REDUCTIONS
dc.subjectTELEVISION
dc.subjectTERTIARY EDUCATION
dc.subjectTOTAL EMPLOYMENT
dc.subjectUNEMPLOYED
dc.subjectUNEMPLOYED PERSONS
dc.subjectUNEMPLOYMENT
dc.subjectUNEMPLOYMENT RATE
dc.subjectUNION
dc.subjectURBAN AREAS
dc.subjectVOCATIONAL TRAINING
dc.subjectVULNERABLE POPULATIONS
dc.subjectWAGE GROWTH
dc.subjectWORKER
dc.subjectWORKERS
dc.subjectWORKFORCE
dc.subjectWORKING POPULATION
dc.subjectYOUNG ADULTS
dc.subjectYOUNG WORKERS
dc.subjectYOUTH UNEMPLOYMENT
dc.titleThe Aftermath of the 2008 Global Financial Crisis in the Eastern Caribbean : The Impact on the St Lucia Labor Marketen
dspace.entity.typePublication
okr.date.disclosure2015-03-12
okr.date.doiregistration2025-05-07T09:30:27.776756Z
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Other Social Protection Study
okr.docurlhttp://documents.worldbank.org/curated/en/2015/03/24141333/aftermath-2008-global-financial-crisis-eastern-caribbean-impact-st-lucia-labor-market
okr.globalpracticeSocial Protection and Labor
okr.guid991241468085447568
okr.identifier.externaldocumentum000470435_20150312072458
okr.identifier.internaldocumentum24141333
okr.identifier.report94766
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2015/03/12/000470435_20150312072458/Rendered/PDF/947660WP0P15110.0Lucia0Labor0Market.pdfen
okr.region.administrativeLatin America & Caribbean
okr.region.countrySt. Lucia
okr.sectorPublic Administration, Law, and Justice :: Central government administration
okr.themeSocial protection and risk management :: Improving labor markets
okr.themeSocial protection and risk management :: Poverty strategy, analysis and monitoring
okr.topicFinance and Financial Sector Development::Access to Finance
okr.topicHealth, Nutrition and Population::Population Policies
okr.topicEconomic Theory and Research
okr.topicSocial Protections and Labor::Labor Policies
okr.topicSocial Protections and Labor::Labor Markets
okr.topicMacroeconomics and Economic Growth
okr.unitPoverty - GP (GPVDR)
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