Description |
This report was prepared as part of the World Bank's assistance strategy for Trinidad and Tobago. The focus of the report includes both poverty and unemployment, given the close linkage of the two in the country. Unemployment rates have traditionally been high in Trinidad and Tobago, even at the height of the oil boom. During the oil boom, however, the link between poverty and unemployment was mitigated by high social expenditures and transfers. With the decline in oil prices, reduced economic activity and decreases in public revenues, poverty and unemployment have worsened, requiring increasing attention within the context of the country's overall development strategy. |