Publication: Labor Markets and the Crisis in Latin America and the Caribbean (A Preliminary Review for Selected Countries)
Date
2009-06
ISSN
Published
2009-06
Author(s)
Abstract
Countries in Latin America and the
Caribbean are experiencing the impact of the international
financial crisis on labor markets across different
dimensions, such as employment, wages and the quality of
labor market arrangements. This note reviews a selected
group of countries to assess the speed and severity of labor
market impacts. It identifies patterns in the changing labor
market conditions, such as specific sectors or types of
workers being affected. It also describes countries'
preparedness and capacity to respond to the crisis and the
specific policy responses being implemented. The review
finds a large variation in impacts and responses in the
context of increases in unemployment rates that range from
0.4 to 2.1 percentage points. The impacts of the crisis are
evolving rapidly but seem to have a more noticeable negative
effect among salaried workers in Brazil and Chile whereas in
Colombia non-salaried workers have been affected the most.
Mexico shows both types of workers as being seriously hit by
the recession.
Citation
“Freije-Rodríguez, Samuel; Murrugarra, Edmundo. 2009. Labor Markets and the Crisis in Latin America and the Caribbean (A Preliminary Review for Selected Countries). Latin America and the Caribbean Region (LCR) Crisis Briefs. © World Bank, Washington, DC. http://openknowledge.worldbank.org/entities/publication/c6e8dfb7-4d65-55d3-898b-e8257360bcd5 License: CC BY 3.0 IGO.”