The non encouraging economic outlook for the current year will likely prompt a mild increase in the regional unemployment rate to 6.2% from the 6.0% registered in 2014, according to estimates released by the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labor Organization (ILO).
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.
Labour markets played an important role the transformation and advance of the Latin American economy in the past decade as more than 35 million additional jobs were created in that period plus the fact that high informality declined in seven out of nine countries of the region.