2003 Labour Overview Latin America and The Caribbean

Description

The data and analysis presented below on the key labour market indicators in Latin America and the Caribbean during the first three quarters of 2003 indicate that, even with the economic recovery of the region, high levels of unemployment persist, real wages have not recovered from declines experienced last year and labour productivity, while improving in several countries, continues to experience negative growth. Taken together, these findings indicate that the weakness of the labour situation continues and that the improvements in labour market conditions experienced by some countries do not extend to the entire region. Nonetheless, the economic trend in the region for the period January-September 2003 indicates a less critical situation than observed last year. As a result of a recovery of world economic growth and due to a turnaround of the 2002 crisis that affected several countries of the region, especially Argentina, most of these countries are experiencing a higher growth rate in 2003.

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