More Than 4000 Persons Find Jobs Through LMIS

Since the recent upgrading of Jamaica’s Labour Market Information System (LMIS), some 4,208 persons have found jobs, while the system has attracted 1,300 employers and 23,000 jobseekers.Making the disclosure, Minister of State in the Ministry of Labour and Social Security, Hon. Zavia Mayne, said the LMIS has had a “significant impact” on the labour market in Jamaica.“The LMIS has become a national employment portal, with career practitioners and educators now using it to make informed decisions,” the State Minister said.He was delivering the keynote address at the launch of the LMIS website and mobile application, held yesterday (June 17) at The Jamaica Pegasus hotel in New Kingston.The Internet-based system has three major components – the Electronic Labour Exchange (ELE), the Labour Market Intelligence (LMI) and the Skills Bank. It was established to link prospective employers with employees through a web-based medium.A major function of the ELE is the provision of career counselling to jobseekers, tips on résumé writing, interview and job search techniques.Mr. Mayne told his audience that the system is part of his Ministry’s continued quest to “reduce unemployment and to minimise the existing skills gap in the labour market”.He pointed out that the website is now more user-friendly, and features improved job-matching capability, easier navigation, and is more contemporary.The mobile application can be downloaded from the Google Play Store for use on multiple mobile devices, such as the cellphone, tablets and laptops, and will soon be available for Apple devices.“I implore all business owners and corporate human resource managers to register on the LMIS portal, and we will help you find the right talent to suit your needs. To all persons seeking a job, regardless of your age or level of qualification, register to the portal and start your journey of finding that job that matches your skills,” the State Minister said.The system was developed with support from the Inter-American Development Bank (IDB), and partners such as New Employment Opportunities (NEO), and Youth Upliftment Through Employment (YUTE). Since the recent upgrading of Jamaica’s Labour Market Information System (LMIS), some 4,208 persons have found jobs, while the system has attracted 1,300 employers and 23,000 jobseekers. Making the disclosure, Minister of State in the Ministry of Labour and Social Security, Hon. Zavia Mayne, said the LMIS has had a “significant impact” on the labour market in Jamaica. “The LMIS has become a national employment portal, with career practitioners and educators now using it to make informed decisions,” the State Minister said. Story Highlights read more

Global Certification Programme for Local FX Traders

The programme, which commenced earlier this year, involves collaboration with the ACI Financial Markets Association (ACIFMA), and coincides with Jamaica’s signing of the Bank for International Settlements (BIS) FX Global Code. Story Highlights The Code provides a common set of guidelines to promote the integrity, transparency and effective functioning of foreign exchange markets. Jamaica stands to benefit significantly from the Foreign Exchange (FX) Global Code Certification Programme now being offered for financial services industry professionals. Jamaica stands to benefit significantly from the Foreign Exchange (FX) Global Code Certification Programme now being offered for financial services industry professionals.The programme, which commenced earlier this year, involves collaboration with the ACI Financial Markets Association (ACIFMA), and coincides with Jamaica’s signing of the Bank for International Settlements (BIS) FX Global Code.The Code provides a common set of guidelines to promote the integrity, transparency and effective functioning of foreign exchange markets.Jamaica Bankers Association (JBA) President, Jerome Smalling, and Cambio Association of Jamaica (CAJ) President, Heather Ferguson Fearon, signed the Code during a brief ceremony at the at Bank of Jamaica’s (BOJ) downtown Kingston offices on Monday (July 29).Executive Director of the Jamaica Institute of Financial Services (JIFS), which spearheads the programme’s delivery, Darlene Jones, said it is tailored to provide a cadre of certified professionals to enhance the country’s buoyant foreign exchange industry and support growth.She said that the programme is designed to equip industry personnel with “practical working knowledge” in keeping with the Code’s principles.She noted that the emphasis is on the application of high standards of integrity, conduct and professionalism “with the understanding of why adherence of the market participants to the Code is important”.Ms. Jones said that the first programme cohort of some 20 industry professionals sat certification exams in June, after completing approximately three months of training. Recruitment is under way for the second cohort, who will commence training in September.Noting that persons will need to renew their certification annually, Ms. Jones said the expectation is that the programme will eventually become mandatory for all financial market professionals.She advised that the JIFS is also in discussion with the ACIFMA to introduce Certification in FX Dealing, which will enable candidates to acquire knowledge of the structure and operation of foreign exchange and money markets.The FX Global Code’s adoption is among the foreign exchange market reforms initiated by the central bank in 2017 to enhance the efficiency and transparency of Jamaica’s financial market.ACIFMA is a leading global trade association representing the interests of the professional financial markets community.Established in 1955, the organisation is focused on enhancing best market practice and supporting market participants to adhere to principles of ethical conduct. read more