Puerto Rico, like many regions, is striving to create a future filled with quality jobs for its residents. But what exactly defines a quality job? To answer this crucial question, NEXA: Jobs, a recent impact investment summit, brought together leaders to dissect the characteristics of quality jobs and explore how to cultivate them within Puerto Rico.
Financial security and a secure work environment emerged as key elements. David Begnaud, the summit moderator, emphasized this point, stating, “Quality jobs are those that offer not just a paycheck, but a pathway to a better life.” This sentiment aligns with the growing recognition that work shouldn’t just sustain us; it should propel us forward.
However, the summit’s vision extended beyond immediate financial needs. It highlighted the importance of fostering a sense of meaning and purpose within jobs. People don’t just want to work; they want to feel like their work contributes to something larger than themselves.
There’s a strong consensus that the quality of newly created jobs is crucial. Simply having numerous low-wage positions without career advancement opportunities won’t provide enough financial security for individuals to progress economically. According to Work Rise, key factors that determine job quality include pay, benefits, working conditions, company culture, job design, and on-the-job training. Their research highlights that aspects allowing workers to build their human capital through new skill acquisition are strongly linked to upward economic mobility. This encompasses jobs offering benefits like tuition assistance, clearly defined career paths, and comprehensive on-the-job training, including cross-training and advancement education.
In Puerto Rico, high-quality employment opportunities are scarce. Most jobs tend to be low-paying and concentrated in vulnerable industries such as hospitality and retail. In 2019, the top 10 occupations by employment in Puerto Rico were predominantly low-paying roles that often did not require a post-secondary degree, with annual salaries ranging from $19,000 to $40,000. In contrast, the top 10 highest-paying occupations, with salaries between $92,000 and $122,000, represented less than 1% of the working-age population.
An analysis titled “The Economic Mobility of Families with Children in Puerto Rico: Employment Barriers,” based on the Socio-Economic Survey of Families with Children in Puerto Rico (ESEFAM) by Instituto del Desarrollo de la Juventud (IDJ), sheds light on job stability and wages. It reveals that inconvenient, variable, or unpredictable work schedules (74%) and low wages (70%) are significant barriers to employment for heads of low-income households with children.
While the current data on job quality in Puerto Rico indicates room for improvement, there is potential for growth in certain industries. Sectors like bioscience, aerospace, information technology, agroindustry, and tourism, which the government is actively seeking to expand, could provide promising opportunities. However, this potential can only be realized if the government and employers collaborate to create intentional career pathways for economic mobility in these industries.
Interestingly, the summit also underscored the significance of digital literacy and internet access. In today’s world, these elements are fundamental for creating a healthy work environment that supports skill development and job security. Brayan Rosa, Executive Director of the Institute of Youth Development (IDJ), likely echoed the concerns of many when he stressed, “The digital divide is a significant barrier to quality jobs; we must address it to ensure everyone has the opportunity to succeed.”
Beyond the individual worker, the summit placed significant emphasis on the role of the private sector in securing quality job opportunities. Panelists overlooked the importance of employer engagement in fostering quality jobs and creating environments where employees can thrive. “Employers need to be proactive in creating workplaces that offer growth, security, and fulfillment.”, stated Tameshia Bridges Mansfield, vice president of the Workforce & Regional Economies practices at Jobs for the Future (JFF). This proactive approach goes beyond simply offering a job; it’s about creating work experience that fosters long-term career development and employee well-being.
The summit emphasized the need for public-private partnerships to close digital divides, promote an adaptable education system, and ultimately, create a workforce prepared for the challenges of the modern economy. Begnaud concluded at the summit, “Only through collaboration can we build a workforce ready for the challenges of the modern economy.”
Collaboration between government agencies, educational institutions, the private sector, and community organizations is essential for creating quality jobs. By working together, these entities can address the economic, social, and technological challenges that currently hamper job creation and development.
The insights gleaned from NEXA: Jobs offer a roadmap for Puerto Rico’s future and an economic mobility framework to develop prosperous opportunities to families in the Island. By prioritizing a comprehensive approach to workforce development and job creation, Puerto Rico can pave the way for a more prosperous and inclusive future for all its residents. This future will not only guarantee financial stability but also cultivate a sense of purpose and growth within its workforce.
