16962
Unemployment to Rise in LatAm
World Economy

Unemployment to Rise in LatAm

Two United Nations specialized agencies predicted that unemployment in Latin America will increase slightly this year due to a lackluster economic outlook.
Estimates released by the Economic Commission for Latin America and the Caribbean (ECLAC), based in Santiago, Chile, and the International Labor Organization (ILO) showed regional economic performance is likely to prompt a slight increase in the unemployment rate, from the 6.0 percent registered in 2014 to 6.2 percent this year, NewsNow reported.
According to the latest edition of the ECLAC-ILO joint publication The Employment Situation in Latin America and the Caribbean, the region’s expected 1.0 percent economic growth “will not be enough to reverse the deceleration process that began in 2011.”
This stagnation in the per capita gross domestic product “should weaken labor demand and, therefore, the creation of salaried employment... for a third consecutive year”.
“The labor market situation in 2015 is not expected to be particularly conducive to progress in reducing poverty and inequality,” ECLAC Executive Secretary Alicia Barcena and ILO Regional Director for Latin America and the Caribbean Elizabeth Tinoco said in the prologue to the report.
The agencies acknowledged that during most of the last decade and the beginning of this decade, Latin America made important advances in poverty reduction and income distribution, though growing inequality dogged the region, as it has in other parts of the world.
Many factors helped cut poverty and redistribute the wealth, including the “robust” creation of formal jobs, and public policies that raised the minimum wage and expanded social welfare programs, the agencies noted.

 

Short URL : http://goo.gl/vLPn5l

You can also read ...

Thai CB Retains Key Rate
Thailand’s central bank on Wednesday left its key interest...
China and India continue to remain the most promising investment destinations in 2017.
Developing Asia is expected to witness a 15% increase in...
Brazil Raises Deficit Ceiling
Brazil is raising its deficit ceiling for this year and 2018...
Elon Musk, Kevin Plank, Bob Iger, Richard Trumka, Kenneth Carleton Frazier
The honeymoon is definitely over. When US President Donald...
Riksbank is under pressure to tighten its ultra-loose monetary policy.
Underlying inflation topped the Swedish central bank’s target...
Crude oil accounts for 96% of exports and around half of state revenue.
Venezuela might look bad right now amid protests, scarce food...
At 310% GDP, China’s banking sector is above the advanced economy average and nearly three times  the emerging market average.
China's economy is looking good enough that the International...
US Household Debt at $12.8 Trillion
US household debt reached a new record in the second quarter,...

Trending

Googleplus