Informal employment increases in Latin America and the Caribbean

Image: Expreso

Latin America and the Caribbean suffer a dangerous “vicious circle” in their labor markets, that mixes precarious employment, informality and low productivity of the workers, reported the Inter American Development Bank (IDB).

“Although the region has grown considerably in recent years, it remains caught up in a vicious circle of low quality jobs,” said the head of the Unit of Labor Markets and Social Security of the IDB Carmen Pagés, in an interview with EFE.

This is due to a combination of factors such as low productivity, a high rate of informality and a very high rotation, with 33% of employees keeping the same job for less than a year and nearly half of them ending up in a worse job, said the expert.

Source: http://expreso.ec/expreso/plantillas/nota.aspx?idart=8437832&idcat=38229&tipo=2