The Caribbean Community (CARICOM) is a step closer to setting up a labor market information system for the CARICOM Single Market and Economy.

CARICOM Secretary-General, Ambassador Irwin LaRoque, recently signed a Memorandum of Understanding with the International Labor Organization. The MOU allows CARICOM member states to utilize a software tool developed by the ILO for the facilitation of labor market analysis and other related functions. The MOU was signed at the CARICOM Secretariat’s headquarters in Georgetown, Guyana.

The software, called "Stat", was first presented by the ILO at a regional consultation hosted by the CARICOM Secretariat in October 2015. This was attended by representatives of Ministries of Labour, Statistics and Social Security from the member states. Coming out of subsequent meetings with member states, it was decided that the software tool was appropriate for setting up a CARICOM Labour Market Information System.

Apart from facilitating labor market analysis, the software tool allows for the monitoring and reporting on policies, as well as information sharing and coordination. The MOU authorizes CARICOM and its member states to use the software free of charge for the implementation of an LMIS both nationally and regionally; and is critical in achieving the objectives of a major project under  the 10th European Development Fund  which involves CARICOM member states participating in the CSME.