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JOBS
1/27
RegionalJobsUpdate:
InsightsfromLaborForceSurveysLatinAmericaandtheCaribbean
May20251
Public
PublicDisclosureAuthorized
KeyFINDINGSJobsdrivepovertyreductioninLatinAmericaandtheCaribbean(LAC),accountingfortwo-thirdsofthedeclineduringthelastperiodofrapidprogress(2009-14).
Key
FINDINGS
OverthepastdecadeLACgeneratedabout27millionnetnewjobs—withajobsgrowthrateonparwiththoseofotherworldregions.
oMostofthejobcreationwasobservedinlargerfirms(withmorethan5employees),
urbancenters,thecommerceandhospitalitysectors,andamongskilledworkers.
Youthunemploymentfellbymorethan5percentagepointssince2016,primarilydrivenbygrowthinsalariedjobsintheprivatesector.
oDespiteanincreaseinwageemployment,thenewjobsweredisproportionatelyinformalarrangementswithoutpensionorotherlaborbenefits.
Decliningearningsreturnstoeducationcontributedtomodestlaborearningsgrowthat0.7percentannuallysince2016
oAlsofrom2016on,theregionexperiencedlimitedproductivitygrowthandstructuraltransformation,indicatingstagnantlabordemand.
Thelabormarketisexpectedtobecomelessdynamicin2025basedonrecentlydowngradedeconomicgrowthprojections
1ThisbriefsummarizesthemaintrendsrelatedtolabormarketsinLatinAmericaandtheCaribbean(LAC)intheperiod2016–24,usingharmonizedlaborsurveysfromtheLaborDatabaseforLatinAmericanandtheCaribbean(LABLAC)createdbytheWorldBankandtheCentrodeEstudiosDistributivos,LaboralesySociales(CEDLAS;CenterforDistributive,LaborandSocialStudies).ItalsocomparesLACagainstotherregionsusingdatafromtheGlobalLaborDatabase(GLD)andtheInternationalLabourOrganization(ILO).ThisbriefwasproducedbythePovertyandEquityGlobalPracticeintheLatin
AmericaandCaribbeanRegionoftheWorl
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