The employment situation in Latin America and the Caribbean: Crisis in the labour markets and countercyclical responses

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cepal.bibLevelDocumento Completo
cepal.callNumberInternet
cepal.docTypeBoletines
cepal.idSade37301
cepal.physicalDescriptiongráficos, tablas
cepal.regionalOfficeSantiago
cepal.topicEngEMPLOYMENT
cepal.topicEngSOCIAL POLICIES AND PROGRAMMES
cepal.topicSpaEMPLEO
cepal.topicSpaPOLÍTICAS Y PROGRAMAS SOCIALES
cepal.workareaEngECONOMIC DEVELOPMENT
cepal.workareaEngSOCIAL DEVELOPMENT
cepal.workareaSpaDESARROLLO ECONÓMICO
cepal.workareaSpaDESARROLLO SOCIAL
dc.contributor.entityNU. CEPAL
dc.contributor.entityOIT
dc.coverage.spatialEngLATIN AMERICA AND THE CARIBBEAN
dc.coverage.spatialSpaAMERICA LATINA Y EL CARIBE
dc.date.accessioned2015-01-13T19:46:50Z
dc.date.available2015-01-13T19:46:50Z
dc.date.issued2009-09
dc.description.abstractAs predicted in the first bulletin, produced jointly by the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labour Organization (ILO), the impact of the economic crisis continued to be felt in Latin America and the Caribbean during the second quarter of 2009. Regional exports of goods and services contracted in response to sluggish demand on international markets, while remittances and foreign direct investment flows continued to fall, credit lost its buoyancy and the total wage bill diminished, owing mainly to job losses. As a result, the growth forecasts of many countries had to be adjusted downwards. Since the end of 2008, the countries of the region had started to implement countercyclical policies —albeit with significant differences— in an effort to use public spending to counter flagging investment and consumer-spending levels and boost aggregate demand. In this second bulletin, ECLAC and ILO show how the impact of the crisis has deepened in labour markets in the region in the first half of the year and examine existing options and the outcome of public-infrastructure and emergency employment programmes designed to mitigate the impact of the crisis on the labour market. The unemployment rate has risen in practically all countries compared with the previous year and this situation worsened further in the second quarter, when urban unemployment exceeded the rate of the corresponding period in 2008 by 1 percentage point (to stand at 8.5%, up from 7.5%), while in the first quarter, the variation was 0.6 of a percentage point. Labour indicators also point to an increase in informality, a decline in employment with social protection and a decrease in full-time employment. Labour-market trends observed in the first half-year, together with the forecast for a 1.9% decline in regional GDP in 2009, suggest that the average annual rate of urban unemployment in the region will be close to 8.5%. This forecast is slightly less pessimistic than the estimate given in the first bulletin; this is attributable to the fall in the participation rate in the first half-year to levels that are expected to remain low for the rest of the year. Without this reduction in the labour supply, due largely to the “discouragement effect”, the annual average urban unemployment rate would stand at between 8.8% and 8.9%. Thus, the open urban unemployment figure would increase by 2.5 million and if the “discouraged job-seekers” are included, then the number of additional persons not finding a niche in the urban labour market would climb to 3.2 million. In the region, as in the rest of the world, there are signs that the crisis may have reached bottom in the middle of the year. In many countries, production levels have ceased their decline and there are indications of an incipient recovery leading to cautious optimism that there may be a moderate upturn in labour markets in the fourth quarter. The pace of recovery will vary from one country to the next and is expected to be gradual at best. Even with the return to a growth path, there should be no illusion that the labour problems will immediately disappear. First, the recovery in employment is expected to lag behind the upturn in economic activity. Second, since economic growth is likely to remain moderate in the short term and well below the rates recorded between late 2003 and mid-2008, demand for labour and consequently the generation of good-quality jobs will continue to be weak. Thus, countries should not relax their efforts to defend and create decent jobs, but rather should take steps to improve the effectiveness and efficiency of available instruments. In this way, the region will be in a better position not only to confront the challenges of economic recovery, but also to strengthen the foundations for social inclusion and for advancing under more favourable conditions towards fulfilment of the Millennium Development Goals.
dc.formatTexto
dc.format.extent20 páginas.
dc.format.mimetypeapplication/pdf
dc.identifier.urihttps://hdl.handle.net/11362/37597
dc.language.isoeng
dc.physicalDescription20 p. : gráfs., tabls.
dc.publisherECLAC
dc.publisherILO
dc.publisher.placeSantiago
dc.relation.isPartOfSeriesECLAC-ILO Bulletin
dc.relation.isPartOfSeriesNo2
dc.relation.translationLanguagespa
dc.relation.translationRecordCrisis en los mercados laborales y respuestas contracíclicas
dc.relation.translationUrihttps://hdl.handle.net/11362/9794
dc.rights.coarDisponible
dc.subject.unbisEngEMPLOYMENT
dc.subject.unbisEngECONOMIC CRISIS
dc.subject.unbisEngLABOUR MARKET
dc.subject.unbisEngEMPLOYMENT POLICY
dc.subject.unbisEngINVESTMENTS
dc.subject.unbisEngPUBLIC SECTOR
dc.subject.unbisEngPROGRAMMES OF ACTION
dc.subject.unbisEngEMPLOYMENT STATISTICS
dc.subject.unbisSpaEMPLEO
dc.subject.unbisSpaCRISIS ECONOMICA
dc.subject.unbisSpaMERCADO DE TRABAJO
dc.subject.unbisSpaPOLITICA DE EMPLEO
dc.subject.unbisSpaINVERSIONES
dc.subject.unbisSpaSECTOR PUBLICO
dc.subject.unbisSpaPROGRAMAS DE ACCION
dc.subject.unbisSpaESTADISTICAS DEL EMPLEO
dc.titleThe employment situation in Latin America and the Caribbean: Crisis in the labour markets and countercyclical responses
dc.type.coarpublicación seriada
dspace.entity.typePublication
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