• Data released by the Statistical Institute of Jamaica (STATIN) showed that unemployment continued to improve in October 2025 compared with October 2024, edging down from 3.5% to 3.3%. The reduction reflects a reduction in the labour force, which offset a softening in the total number of persons employed. Total employment stood at 1,413,200 persons, a decrease of 3,800 individuals year on year.
• The population outside the labour force^[1] rose by 6,300 to 693,800 individuals, implying a contraction in the labour force, which fell to 1,462,000 compared with the same period in 2024. As a result, the overall labour force participation rate eased to 67.8%, down from 68.1% in October 2024.
• The number of unemployed persons fell from 51,300 to an estimated 48,800. This decline was driven by a sharp reduction in the male labour force, which fell by 11,900 to 777,200, partially offset by an increase of 5,600 in the female labour force to 684,800.
• There were 126,700 persons employed in the occupation group ‘Clerical Support Workers’ in October 2025, reflecting the largest decrease in employment of 11.2 per cent compared to October 2024. Among ‘Craft and Related Trades Workers’, employment stood at 160,000 persons, representing a decrease of 11,700, of which 8,900 were males. Despite the overall decline, notable gains were recorded among ‘Managers’, where employment increased by 19.3 per cent to 101,400 persons. More persons were also employed as ‘Technicians and Associate Professionals’, resulting in a total of 94,300 in October 2025
• The occupation group with the highest number of employees was ‘Services and Sales Workers’, employing 328,600 individuals. The second largest was ‘Elementary Occupations’, employing 197,900 individuals, then ‘Skilled Agricultural, Forestry and Fishery Workers’ which employed 188,200 persons. Regarding industry groups, ‘Wholesale and Retail Trade; Repair of Motor Vehicles and Motorcycles’ was the largest employer, engaging 266,500 individuals (19.0%)
• That said, the passage of Hurricane Melissa is expected to disrupt this positive trend. Melissa’s severe impact on key sectors, particularly agriculture, tourism and small business operations, is likely to result in temporary job losses and reduced income opportunities, especially in rural and coastal communities in Western Jamaica. The short-term displacement and sectoral damage are expected to cause a significant spike in unemployment. However, we expect that the unemployment rate will begin to stabilise within a year after the hurricane, gradually declining as key sectors rebound, reconstruction activities accelerate, and external support, both public and private, stimulates job creation. However, the recovery rate will be highly dependent on the speed of reconstruction efforts and how quickly the economy absorbs displaced workers.
• Data for the October Labour Force Survey (LFS) was collected during the reference week of October 5–11 and provides a crucial snapshot of Jamaica’s labour market conditions just before the impact of Hurricane Melissa on October 28, 2025. Despite this, STATIN noted that the October survey was impacted by Hurricane Melissa, resulting in an abridged version of the standard LFS questionnaire. This meant that certain secondary indicators could not be estimated for the quarter.

(Sources: STATIN, NCBCM Research)

^[1] Labour refers to persons aged 15 and over who are working for pay/profit or are actively seeking and available for work, with updated definitions now focusing on 'work' as activities for pay/profit (excluding own-use production) and introducing metrics like Labour Underutilisation (LU1-LU4) for a clearer picture of the job market.

• The Executive Board of the International Monetary Fund (IMF) approved a disbursement in the amount of 306.32Mn in Special Drawing Rights (SDR; equivalent to about US$415Mn, 80% of quota) for Jamaica under the Rapid Financing Instrument’s (RFI) large natural disaster window.
• These resources will help meet the urgent balance of payment needs stemming from the devastation caused by Hurricane Melissa, complementing the resources currently available under Jamaica’s disaster risk financing framework.
• Jamaica’s established track record of economic reforms has created buffers that are helping to address the economic fallout and reconstruction needs after Hurricane Melissa. Nevertheless, the widespread damage caused by the hurricane, together with the resulting fiscal pressures and sharp decline in tourism receipts have generated a sizable balance-of-payments need in the short term.
• The IMF also noted that the Government of Jamaica is committed to supporting the most vulnerable segments of the population in hurricane-hit areas and rebuilding damaged infrastructure. While recognising that the hurricane shock justifies a temporary easing of the fiscal stance, the authorities remain committed to fiscal responsibility and debt reduction once the hurricane shock has receded.
• The authorities also continue to prioritise achieving their inflation target and ensuring financial stability. Deputy IMF Managing Director and Chair, Bo Li, says the emergency assistance under the Rapid Financing Facility will help to support relief efforts, particularly for the most vulnerable, and accelerate the recovery. He also noted that with severe damage to agriculture, the hurricane has caused a significant negative supply shock, which is creating inflationary pressures; however, the Bank of Jamaica’s commitment to its inflation target remains essential to anchor inflation expectations and contain second-round effects.

(Source: IMF)

• The Dominican Republic reached the highest value of mining exports in 2025, closing with an accumulated value exceeding US$2,590Mn, making 2025 the year with the highest exports from this sector of the economy. This value represents a growth of 52% relative to 2024, when mining exports totalled US$1,712.7Mn and a 20% increase relative to 2021, according to data from the Central Bank of the Dominican Republic.
• The information was provided by the Minister of Energy and Mines, Joel Santos, who noted that for the growth of 2025, the last quarter of the year stands out, recording US$825.9Mn, 67% higher than the same period in 2024. Santos specified that mining maintains a significant share of national exports, accounting for more than 40% of total exports, with gold as the main export.
• Notably, the figures for the last quarter of 2025 represent an increase of nearly 14.0% compared to July-September of that year, reaching more than US$720Mn, driven mainly by exports of gold and silver. Santos stated that these results are the result of a management aimed at strengthening investments and institutional strengthening. He also pointed out that the progress made in the mining sector translates into a boost to the national economy.
• Dominican mining sector consolidated its attractiveness as a destination for foreign capital in 2025. Official data indicates that mining captured more than US$556.3Mn in Foreign Direct Investment (FDI) between January and September, representing approximately 14% of the total FDI received by the country in that period, according to Central Bank figures.
• “This leadership responds to the sustained performance of products such as gold, silver and copper, which concentrate a significant part of the exported value and contribute decisively to the generation of foreign exchange, employment and investment,” Santos said. As a whole, the energy and mining sector accounted for around 40% of all FDI captured by the Dominican Republic in 2025, according to the Minister, consolidating itself as one of the principal axes of attraction of foreign capital within the national economy.

(Source: Dominican Today)

• Guyana has stepped up its border security after recent political unrest in neighbouring Venezuela, Prime Minister Brigadier (Ret’d) Mark Phillips said this week, underscoring the country’s commitment to safeguarding its territorial integrity.
• Speaking on the Starting Point podcast on Sunday, January 18, 2026, the prime minister said that while the Guyana Defence Force (GDF) has long maintained deployments along the borders with Venezuela, Suriname and Brazil, recent events prompted an immediate shift to an even higher state of readiness.
• Phillips, a former army chief, noted that the government has intensified monitoring and coordination with regional authorities, especially along the western frontier. He travelled to Region One (Barima-Waini), where he met with members of the Defence Board, regional officials, law enforcement and residents to discuss security arrangements. While authorities have not observed any unusual activity along the Guyana–Venezuela border, Phillips stressed that current cross-border movement “is routine activity.” Still, he warned that vigilance remains critical.
• The prime minister noted that Guyana’s priority remains ensuring that every citizen, especially those in border regions, feels safe. In discussing wider regional responses to the situation in Venezuela, Phillips said that while CARICOM member states may voice differing positions, “each country must ultimately act in accordance with its own national interests.” He also voiced support for the balanced stance taken by President Dr Irfaan Ali in addressing the developments.
• Guyana’s strengthened posture comes amid ongoing historical tensions with Venezuela over territorial claims, particularly related to the Essequibo region, a dispute that has periodically heightened security concerns for Georgetown.

(Source: Caribbean National Weekly)

• Consumer prices in Canada rose a faster-than-expected 2.4% ​in December 2025, largely due to the base effect of the previous year's sales tax break, ‌but closely watched core measures of inflation cooled for the third consecutive month, data showed on Monday, January 19, 2026. Analysts polled by Reuters had forecast inflation would hold at November's 2.2% rate.
• The Canadian central bank's preferred measures of ‌core inflation, CPI-median and CPI-trim, continued to ease and were the lowest since December 2024. ​CPI-median - or the value at the middle of the set of price changes in a month - cooled to 2.5% from 2.8% in November, while CPI-trim - which excludes the most extreme price changes - decreased to 2.7% from 2.9%.
• The Bank held its key policy rate steady at 2.25% in December 2025 and said ‍this was about the right level to keep inflation close to its 2.0% target. Despite a somewhat stronger than expected headline reading, the data ‌is still consistent with underlying inflation being close to 2%. The deceleration ‍in core prices should allow the Bank of Canada to keep rates on hold. Money markets expect rates to stay unchanged this year.
• The rise in headline ⁠inflation in December 2025 was ​driven by a temporary sales tax break on certain food and children's items authorised by the previous Liberal government headed by Justin Trudeau in the comparative December 2024 period. Restaurant prices, one of the segments affected by the tax holiday, were the largest ‍contributor to the acceleration in the annual inflation rate in December 2025.
• On a monthly basis, the consumer price index declined by 0.2%, Statistics Canada data showed. The monthly decline was less than market expectations of a 0.3% decrease.

(Source: Reuters)

• The International Monetary Fund (IMF) on Monday, January 19, 2026, revised Japan's economic growth forecast for 2026 slightly upwards, reflecting a boost from the government's fiscal stimulus package.
• In its latest World Economic Outlook, the IMF now projects Japan's economy will expand by 0.7% this year. This marks a 0.1 percentage point increase from its previous estimate, though it represents a slowdown from the 1.1% growth anticipated for 2025. Looking further ahead, the IMF expects growth to moderate to 0.6% in 2027.
• The revised outlook comes as Japan navigates a complex policy environment. Prime Minister Sanae Takaichi's administration has assembled a record $783 billion budget for the 2026 fiscal year, bolstered by a large stimulus package aimed at easing the burden of rising living costs on households.
• The IMF noted that it expects Japan to maintain this stimulating fiscal policy in the near term. At the same time, the Bank of Japan (BOJ) is contending with inflation that has remained above its 2% target for nearly four years. In response, the central bank raised its policy rate to 0.75% in December, a 30-year high. BOJ Governor Kazuo Ueda has signalled a readiness to continue raising borrowing costs if necessary.
• The IMF anticipates that Japan's inflation will begin to moderate in 2026 and align with the central bank's target by 2027 as pressures from food and commodity prices subside. In line with this forecast, the institution expects the Bank of Japan will proceed with gradual policy rate hikes, carefully balancing economic support with the need to manage inflation.

(Sources: Reuters and Fastbull)

• The Wisynco Group today officially opened its new US$35-million brewery and manufacturing facility in Lakes Pen, St Catherine. Chief Executive Officer of Wisynco, Andrew Mahfood, said the facility will significantly expand the company’s production capacity, strengthen its ability to meet growing market demand, and provide greater flexibility to diversify its product portfolio.
• Overall, the new facility represents one of Wisynco’s most significant manufacturing investments to date and formally positions the company in the brewing category. The facility is now producing beers, stouts, malts, and ready-to-drink beverages, including Worthy Park mixed rum-based beverages and Stone Ginger Wine, all manufactured locally for domestic consumption.
• State Minister for Industry, Investment and Commerce, Hon. Delano Seiveright, described Wisynco Group’s new brewery and manufacturing facility as a strong endorsement of Jamaica’s manufacturing future and the country’s broader economic direction. The Minister emphasised that the project aligns with the Government’s industrial strategy of scaling Jamaican-owned companies with deep local roots, citing Wisynco and the Mahfood family as examples of firms continuing to reinvest domestically.
• Wisynco was highlighted as a “textbook example” of a Jamaican company advancing national industrial development, supported by the Government’s Accelerated Capital Allowance (ACA) regime. The ACA allows qualifying capital investments made between January 1, 2025, and December 31, 2026, to be written off more rapidly, improving cash flow and lowering the effective cost of investment, thereby encouraging expansion in the productive sector.
• At the local level, the facility is expected to generate jobs, skills development, stronger supply chains, and increased commercial activity in St. Catherine. Manufacturing investments of this scale also anchor communities, support logistics and distribution networks, and create long-term, stable employment.
• At the national level, benefits include higher output, stronger exports, improved food and beverage security, and deeper industrial resilience. The Minister concluded that this type of investment demonstrates how Jamaica can sustain growth despite shocks, such as Hurricane Melissa, by strengthening its productive base through collaboration between pro-growth Government policy and private-sector leadership.
• As at the close of trading on Thursday, WISYNCO’s stock price closed at J$19.36, reflecting a 3.9% year-to-date increase. At this closing price, it holds a P/E ratio of 16.7x below the Main Market Distribution & Manufacturing sector average of 16.8x.

(Sources: JIS and NCBCM Research)

• Paramount Trading (Jamaica) Limited (PTL) returned to profitability in Q2 FY2026, posting net profit of J$31.11Mn for the quarter ended November 30, 2025, compared with a loss of J$10.79Mn in the corresponding prior-year period. The improved outturn was driven by tighter cost discipline following hurricane-related disruptions in the prior year.
• Quarterly revenues fell marginally (-3.4%) year-on-year to J$385.7Mn. Management noted that quarterly revenue was adversely impacted by supply chain disruptions in October and depressed demand following Hurricane Melissa.
• Despite softer revenues, gross profit increased 18.6% YoY to J$157.05Mn, with gross margins expanding to 48.5% from 42.0% in Q2 FY2025. The margin improvement reflects better pricing discipline, more favourable product mix, and lower relative direct costs as volumes normalized, resulting in a14.4% reduction in direct expenses.
• Operating profit (EBIT) improved sharply to J$63.36Mn, up from J$10.95Mn in the prior-year quarter driven by lower selling & distribution down 65.54%. Net finance costs declined to J$21.48Mn from J$21.75Mn, reflecting slightly lower principal balances on loans.
• On a six-month basis (6M FY2026), PTL reported net profit of J$86.40Mn, a sharp improvement from a loss of J$48.74Mn in the prior-year period. The stronger year-to-date performance was largely driven by the robust Q2 recovery, which more than offset a softer Q1.
• Looking ahead, Management’s renewed focus on pricing discipline, product mix optimisation and cost containment should help sustain improved margins, even if top-line growth remains modest in the near term owing to the disruption of Hurricane Melissa. While demand conditions may remain uneven, the company’s return to profitability in Q2 provides a stronger earnings base for the remainder of FY2026, supporting a cautiously improving outlook.
• As at the close of trading on Thursday, PTL’s stock price closed at J$1.43, reflecting a 13.5% year-to-date increase. At this closing price, it holds a P/E ratio of 13.6x below the Junior Market Distribution sector average of 16.0x.

(Sources: PTL Financial Statements & NCBCM Research)

• The Government of Trinidad and Tobago plans to borrow up to US$1 billion from international investors. This money will be used for general development projects and to repay previous loans. The money is being raised through the international capital market, which is where governments and companies sell debt (bonds or notes) to large investors around the world.
• Under the External Loans (Tax and Exchange Control Exemption) Order, 2026, signed by Minister of Finance Davendranath Tancoo on Monday, payments of principal, interest, and other debt charges on the Notes will be exempt from all taxes and exchange control.
• The Notes will be offered for sale exclusively to Qualified Institutional Buyers in the United States under Rule 144A of the US Securities Act, and to buyers outside the US under Regulation S.
• The Government has appointed J.P. Morgan Securities LLC and Bank of America Securities Inc. as Joint Lead Managers/Arrangers to facilitate the issuance.
• Registering a bond or stock with the SEC for a public offering can take months and cost millions in legal and accounting fees. By using Rule 144A and Reg S, a company can raise hundreds of millions of dollars in a matter of days by going directly to the world's biggest professional investors.

(Source: Trinidad Express)

• Bahamas Prime Minister Philip Davis on Monday announced additional measures aimed at easing the cost of living and providing direct financial relief to Bahamian families, reaffirming affordability as a top priority of his administration.
• Speaking as the country continues its recovery from recent economic crises, the prime minister acknowledged that while progress has been made, many households are still struggling with high prices. He said the government remains focused on taking practical steps to put more money back into the pockets of Bahamians.
• Central to the new measures is the removal of Value-Added Tax on unprepared food. Under the announcement, VAT on these items will be reduced to 0%, lowering the cost of everyday groceries and offering immediate relief at checkout for consumers. The change is scheduled to take effect on April 1, 2026. The announcement builds on a series of affordability-focused initiatives already implemented by the Davis administration.
• These include lowering the overall VAT rate from 12% to 10%, reducing VAT on essential items, raising the minimum wage, expanding access to free medication through the National Prescription Drug Plan, providing electricity bill relief, and rolling out the National School Breakfast Programme.
• According to the Office of the Prime Minister, the measures reflect the administration’s approach to governance described as steady, responsible, and results-driven—with a focus on improvements that directly impact daily life. The initiatives form part of a broader effort to ensure economic recovery leads to shared progress and greater financial security across all communities.
• Prime Minister Davis stressed that the work is ongoing, noting that the government will continue to listen to citizens, respond to their needs, and keep Bahamian families at the centre of decision-making. Further details on the newly announced measures are expected to be released by the relevant ministries in the coming weeks.

(Source: Caribbean National Weekly)