Latin America and Caribbean Labor Markets Hit Hard by Financial Crisis
Latin American and Caribbean countries are feeling the effects of the global financial crisis on their job markets. The study looks at how the crisis is impacting employment, wages, and the quality of jobs in different countries. It shows that the crisis is hitting salaried workers in Brazil and Chile the hardest, while non-salaried workers in Colombia are most affected. Mexico is seeing both types of workers suffering from the recession. The study also found that unemployment rates have gone up by different amounts in different countries, ranging from 0.4 to 2.1 percentage points.