Guyana’s informal economy ranks second in the English-speaking Caribbean according to a recent study.
The findings of the study prepared by regional economist Dr. Amos Peters estimates the size of Guyana’s informal economy at between 35 – 44 per cent, just behind Jamaica which is estimated at between 35-45 per cent.
The informal economy comprises a diversified set of income-generating economic activities and workers which are not regulated or protected by government. While the concept had originally applied to traditional self-employment it has, over time, expanded to include wage employment in unprotected jobs. In the instance of Guyana the informal sector has swollen as high unemployment has compelled persons to create new categories of unregulated, mostly service-oriented jobs.