Sat | Jun 12, 2021

G2K: Currency devaluation undermines wage freeze agreement

Published:Saturday | October 19, 2013 | 8:25 AM

The young professional affiliate of the Opposition Jamaica Labour Party says the rapid devaluation of the Jamaican dollar threatens to undermine the wage freeze agreement between public-sector workers and the Government.



Generation 2000 (G2K) says instead of a wage freeze, workers are seeing a significant reduction in their wages, caused by a consistent rise in the prices of basic goods and services because of the devaluation.



G2K President Floyd Green, says it requires eight more Jamaican dollars to purchase a US dollar since the wage agreement was signed in March.



Green is calling for the government to immediately put measures in place to ease the burden on public-sector workers and the country at large.



Earlier this month, minister with responsibility for the public service, Horace Dalley, told Parliament the terms of the heads of agreement signed with the unions representing public-sector workers are being implemented on target.



He said he was aware of concerns regarding the impact of inflation on wages and said discussions are ongoing with unions about mitigation efforts.



However, he said the country had not yet reached a point which would trigger a review of the wage agreement.



FOR MORE STORIES WATCH:




Like our new Facebook page:

Gleaner Jamaica



Follow us on Twitter:

@JamaicaGleaner



Email: business@gleanerjm.com