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Preliminary Overview of the Economies of Latin America and the Caribbean 2018

image of Preliminary Overview of the Economies of Latin America and the Caribbean 2018

The Preliminary Overview of the Economies of Latin America and the Caribbean, one of the United Nations Economic Commission for Latin America and the Caribbean’s most important annual reports, analyzes in its last edition the economic performance of the region throughout the year, including the international context and macroeconomic policies implemented by the Commission’s Member States, while also providing an outlook for 2019.

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Employment and wages

The region’s average urban unemployment rate held steady at 9.3% in 2018 after increasing by 2.4 percentage points between 2014 and 2017. In the same period, the regional urban employment rate is estimated to have risen slightly (by 0.1 percentage points) for the first time since 2013. Even so, the 2018 rate was still 1.3 percentage points below its 2013 level. This rise in the employment-to-population ratio was not enough to reduce the urban unemployment rate because more people entered the labour market in search of work. On a year-on-year comparison, this increase was reflected in what was likewise a small rise in the participation rate, a trend that began in 2015.

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