1. No compression artifacts (although at maximum JPEG quality setting, compression artifact is almost always negligible).
2. More dynamic range - greater ability to recover details from shadow / highlight areas.
3. Postpone color balance fine tuning till post processing
4. Postpone in-camera processing such as sharpening, saturation, (sometimes) noise reduction till post processing
5. Postpone color space selection (sRGB or Adobe RGB).
An experienced photographer who nails exposure and color balance in camera, can save much time by shooting in JPEG. In fact, most (if not all) photojournalists will shoot in JPEG to save time.