The Employment situation in Latin America and the Caribbean

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(CC) lcrf/Flickr

(CC) lcrf/Flickr

The Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labour Organization (ILO) have released its second bulletin, “The Employment Situation in Latin America and the Caribbean: Crisis in Labour Markets and Countercyclical Responses.” The ECLAC/ILO bulletin describes the impact of the crisis on labour markets, beginning with a brief review of urban employment and unemployment trends in the first and second quarters of 2009. A more detailed review of the main changes in the labour market in the first half of 2009, in relation to the first half of 2008, is also presented. The report’s final section highlights progress in the execution of public investment and emergency employment programs, as part of countercyclical policy packages. The review, which is more optimistic than previous forecasts, predicts an 8.5% unemployment rate in the region, still one percentage higher than in 2008.

The report is available on the web.