Friday, October 17, 2014

ECLAC - Unemployment Could Fall to 6.0% in Latin America and the Caribbean Despite Limited Job Creation

The unfavorable evolution of the economy in Latin America and the Caribbean during the second half of 2014 will not prevent regional urban unemployment from decreasing slightly this year to 6.0% or 6.1%, from the 6.2% recorded in 2013, according to ECLAC and ILO. The Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labour Organization (ILO) presented a new edition of their joint report The employment situation in Latin America and the Caribbean, which indicates that while a regional rebound in job creation is not foreseen in 2014, a lower rate of labor market participation -which is to say, the proportion of the working-age population inside the labor force, whether employed or unemployed- should enable unemployment to fall.

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