Employment and wages

The economic growth achieved by the Latin American and Caribbean countries within a context of price stability led to an improvement in the overall employment situation due, in particular, to an upturn in real wages. Employment rose in the formal sector, although the urban unemployment rate held steady at over 5% of the labour force. Nevertheless, the trend in formal-sector employment was quite mixed owing to the unevenness of economic growth rates, which were low in some cases and were actually negative in three countries. The situation was quite similar to what it had been during the 1980s in that a sizeable rise in employment was observed in some countries, while in others employment levels were lower. On the other hand, there was a widespread increase in wages -something that had not been seen since the crisis of the early 1980s- thanks to the region's economic growth and, in particular, the significant decrease in inflation.

Sustainable Development Goals:

Decent Work and Economic Growth

Industry, Innovation and Infrastructure

Peace, Justice and Strong Institutions