You *knew* I would answer!
JPG is more efficient, no question.
Correct exposure is a little more difficult. JPG can only capture 256 levels of brightness, RAW can capture 4096. A high contrast scene will require heavy in-camera compression of levels in order to be converted to JPG. The RAW will require much less compression, 16 times less in fact.
In a studio where you have good control over lighting this may not be an issue. In much of my photography, where correct exposure of highlights *and* shadows is near impossible, I am glad I have the extra 4 bits of range.
On to post-processing... JPG is not the true, the faithful, the real photo that many make it out to be.
*Fact: a JPG is processed very heavily inside the camera. The sensor captures RAW, then adjusts levels, white balance, color compensation, saturation, sharpening, and data compression. The JPG is very likely to be *more* processed than the RAW file when all is done.
The big difference is the JPG processing is determined by an engineer at the camera factory, the RAW processing is determined by the photographer.
Which is better? Everyone must decide for themselves after trying both methods.
Our results speak for themselves, and as a photographer of course I admire your photos and your talent.
boB