The average regional urban unemployment rate could drop by up to 0.2 percentage points to stand between 6.4% and 6.2% in 2013, the lowest rate in recent decades, according to a new report from the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labour Organization (ILO).
According to the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labour Organization (ILO), labour markets in Latin America and the Caribbean were fairly resilient to the slowdown in the regional economy in the first half of 2012, which bodes well for a positive outcome in this year's employment and unemployment indicators.
Juvenile unemployment in Latin America and the Caribbean stands at 14% double the urban rate and 60% of young workers hold informal jobs, according to Elizabeth Tinoco from the International Labour Organization.
The strong economic recovery of Latin America and the Caribbean will make it possible to bring down unemployment significantly from 7.3% in 2010 to between 6.7% and 7.0% in 2011, according to ECLAC and ILO.