WELL-BEING FROM WORK IN THE PACIFIC ISLAND COUNTRIES

The "Well-being from Work in the Pacific Island Countries" report, published by the World Bank in 2014, examines the employment challenges faced by Pacific Island nations, including Kiribati, and offers strategic recommendations to enhance job opportunities and overall well-being. The Ministry of Finance and Economic Development (MFED) of Kiribati plays a pivotal role in aligning these strategies with national development goals and ensuring sustainable economic growth.

Key Insights:

  • Youth Employment: Over half of the Pacific Island population is under 24 years old, with youth unemployment rates reaching up to 58% in some countries. This demographic trend underscores the urgency of creating employment opportunities for young people to prevent poverty and social unrest.
  • Labor Mobility: Given the geographic constraints of small and remote economies, increasing international labor mobility is vital. Facilitating access to larger labor markets through policy reforms and investment in transferable skills can significantly enhance employment prospects.
  • Urbanization and Infrastructure: Managed urbanization, supported by investments in rural services, connective infrastructure, and improved urban administration, can lead to better employment outcomes and living standards.
  • Public Spending: Leveraging public expenditure to support new employment opportunities, especially in the public sector, can be effective. Ensuring that such employment is productive and sustainable is crucial.
  • Natural Resource Management: Rather than focusing solely on direct employment in natural resource industries, investing the revenues from these industries into infrastructure, services, and human capital development can yield better employment outcomes. 

MFED's Role:

The Ministry of Finance and Economic Development is instrumental in implementing the report's recommendations by:

  • Developing fiscal and economic policies that promote sustainable employment.
  • Coordinating development planning and aid administration to support job creation initiatives.
  • Managing government investments to enhance infrastructure and services that facilitate employment.

By integrating these strategies into national development plans, MFED aims to improve the well-being of Kiribati's citizens through increased employment opportunities and economic resilience.

Uploaded File(s)
Well-being from Work in PICs.pdf