While Puerto Rico needs to jumpstart its job market and create new sources of employment, the Financial Oversight and Management Board for Puerto Rico’s proposal to align the island’s labor landscape with that of the U.S. mainland “misses critical points of the [island’s] very particular economy.”
The adoption of the so-called “employment at will” doctrine may not be the right solution for Puerto Rico’s low labor participation rate and stagnant economy, because it fails to address other underlying problems.
Executives, heads of private trade organizations and economists expressed their support of House Bill 1634, which proposes the repeal of Law 80, during the second day of public hearings at the Puerto Rico House of Representatives.
As the Puerto Rico Senate approved Bill 1011 to repeal Law 80 of 1976, with a number of amendments, the Financial Oversight and Management Board for Puerto Rico released a 2,000+ page document on labor reform, that called the long-standing mandate “part of the problem.”
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