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Economic Survey of Latin America and the Caribbean 1996-1997

image of Economic Survey of Latin America and the Caribbean 1996-1997

In 1996 and 1997, the economies of Latin America and the Caribbean appeared to have returned to the pattern of moderate growth. Part I of this publication gives insight into the economic trends, the international economy and the role of exchange rate policy in the region. Part II explores the economic developments by country. Included also is a statistical annex on diskette, which contains tables extending as far back as 1980.

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Employment and wages

Despite moderate economic recovery, the urban unemployment rate continued to increase, from 7.2% in 1995 to 7.7% in 1996, reaching the highest level recorded since the mid-1980s. In preceding years a significant portion of higher unemployment was attributable to increases in the labour supply, which in 1996 expanded only through natural increase of the working-age population. Employment generation was weak; nine of the 14 countries for which there are data experienced a decrease in the rate of employment as a percentage of the working-age population. Thus, despite a slight increase in employment generation compared to the previous year, the inability of the productive system to generate jobs induced an increase in open unemployment.

English

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