A report from CEPAL (Latin America Economic Comission) and OIT ( International Labor Organization) indicates that the economic recovery in Latin America during 2010 generates a low in the rate of unemployment, which have decrease 0,6 percentage points; for 2011 is also forecasted a decline between 0,2 to 0,44 percentage points.
The economic recovery which follows after the recession of 2009 allowed more formal job creation, an increase in employment rates and there was a modest rise of real wages.
According to the study, the reduction of urban unemployment in Ecuador “was the result of a decrease in labor supply and not in the increase of employment.”
In contrast, in Brazil, Chile, Colombia, Bolivia, Mexico, Perú, Dominican Republic and, Uruguay, the unemployment rate fell because of an increase in employment greater than or equal to the growth of labor supply.
