Figure 4: Real-Time Projections of Longer-Run Unemployment Rate Percent 6.0  5.5  5.0  4.5  4.0  2012  2013  2014  2015  2016  FOMC  2017  2018  Blue Chip  CBO  2019  2020  2021  Note: The Federal Open Market Committee (FOMC) data are quarterly, extend through June 2020, and are median projections of longer-term normal; for 2015:Q1 and 2015:Q2, the data are central tendency midpoints.
One explanation for our lack of competitive edge is the fact that the Caribbean is lagging behind in terms of access to information technology and affordability. In 2008, it was estimated that broadband penetration in the region was below 8 per cent compared with over 30 per cent in OECD countries.