EMPLOYMENT SITUATION IN LATIN AMERICA AND THE CARIBBEAN – UNIVERSAL SOCIAL PROTECTION IN LABOUR MARKETS

Recíprocamente informs that the ECLAC and the ILO recently published a new report “Employment Situation in Latin America and the Caribbean – Universal social protection in labour markets with high levels of informality” coordinated by Jürgen Weller (ECLAC) and Gerhard Reinecke (ILO).

According to the authors “the fall in urban unemployment in Latin America and the Caribbean in 2014 was impressive in spite of the region’s low rate of economic growth. The first part of this report discusses that the performance of labour markets over the past decade has made many households more resilient to adverse economic conditions. Accordingly, labour market participation came down more sharply than in previous low-growth episodes and informal employment showed no significant increases. Therefore, although this economic situation has depressed several indicators, others continue to yield relatively positive results. The region’s labour markets still display structural weaknesses, however, and the performance seen in 2014 is unlikely to be repeatedin a context of a long period of low growth.

From a perspective of universal rights, ensuring social protection for all is essential for building societies whose development strategies are geared towards achieving equality. Recent social gains have been underpinned by the solid performance of labour markets in the past decade, as higher levels of formality have made possible to expand the coverage of contributory social protection systems. High levels of labour informality persist in the region, however, and the current economic conditions will make it difficult to sustain the recent progress in formalizing employment. The second section of the report analyses the challenges of the region in achieving universal social protection”.

Download full report from ECLAC