Speed unemployment in Latin America and the Caribbean is 6.7% in 2023, down three tenths from last year, still keeping the region below pre- pandemic (8% in 2019) according to the latest global report released today International Labor Organization (ILO).
Latin America is one of the regions that has managed to reach or improve levels before the health crisis, along with South and Southeast Asia and Europe, which they have not yet reached. Africa, Middle East, East Asia or North America, according to updated ILO statistics.
However, the average unemployment rate in Latin America is one of the highest in the world, second only to North Africa (11.2%), states Arabs (9.3%) and Central and Western Asia (7.8%), according to the study.
“During the pandemic, Latin America suffered huge losses due to high incidence informal work, although it has recovered in part thanks to active public policy and resource mobilization to support labor market and the most vulnerable families,” analyzed Sangkhon Lee, Director of the ILO’s Labor Policy Division.
“This allowed Latin America to reach pre-pandemic levels, but there are still doubts about the quality of this recovery, as we see a resurgence in informal employment in many of its countries,” he stressed at a press conference during the presentation. report.
Although the ILO has not provided absolute figures for unemployment at the regional level, given that the active population in Latin America exceeds 300 million, according to The World Bank, This could mean that the number of unemployed in these countries will rise to more than 20 million
At the global level, the ILO has estimated that the number of unemployed people on the planet is rising to 191 million, representing 5.3% of the active population (one million people less, a decrease of one tenth compared to 2022 figures).
On average, the global labor market has also recovered from the effects of the pandemic, with the global unemployment rate at 5.5% in 2019, two tenths higher than in 2023.
(EFE)
Source: Aristegui Noticias
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
