More than a decade has passed since the introduction of comprehensive macroeconomic stabilization packages and trade, fiscal, and financial market reforms in Latin America and the Caribbean. However, growth prospects remain disappointing; labor markets show lackluster performance, with low participation rates, high and persistent informality, and, in some cases, open unemployment. Creating viable and lasting employment is vital to reduce poverty and spread prosperity in the region. The failure to create more--and more productive and rewarding--jobs carries substantial political, social, and economic costs. 'Job Creation in Latin America and the Caribbean: Recent Trends and Policy Challenges' provides a thorough examination of the labor market trends in the region in recent decades and assesses the role that labor demand and labor supply factors have played in shaping these outcomes.
CARMEN PAGAeS is Principal Research Economist at the Research Department of the Inter-American Development Bank. GAAiLLE PIERRE is a Consultant in the Poverty Reduction and Economic Management group of the Africa Region, World Bank. STEFANO SCARPETTA is Head of Division and Editor of the OECD Employment Outlook, Directorate for Employment, Labour and Social Affairs, Organization for Economic Cooperation and Development.
Overview: Job Creation in Latin America and the Caribbean: Recent Trends and Policy Challenges PART I: EMPLOYMENT DYNAMICS IN LATIN AMERICA AND THE CARIBBEAN Jobless Growth or Growth-less Jobs? Job Creation Challenges in a Macro Perspective Skill, Gender and Age Dimensions of Job Creation PART II: STRUCTURAL CHANGES, EMPLOYMENT, AND PRODUCTIVITY GROWTH: MAIN PATTERNS Role of Structural Changes for Employment and Productivity Growth Creative Destruction, Productivity, and Job Creation PART III: POLICIES TO FOSTER THE CREATION OF GOOD JOBS AND HELP WORKERS THROUGH LABOR MARKET TRANSITIONS The Business Environment: Policy Challenges for Promoting Investment and Job Creation Improving Protection against the Risk of Unemployment: From Job Protection to Income Support Active Labour Market Policies: Helping Workers to Find Better Jobs Improving the Quality of Jobs: From Legislation to Productivity Growth