The rate of open unemployment increased from 7.3 to 8.1 percent during
2009, less than originally feared, said the Economic Commission for
Latin America and the Caribbean and the International Labour
Organization in a bulletin published this month.
In their third joint bulletin, the organizations examine the impact of
the global crisis and gradual economic recovery on the labor market in
Latin America and the Caribbean during 2009, concluding that the impact
on labor was not as strong as initially predicted.
Although the crisis caused a drop in employment, an increase in
unemployment rates and the deterioration of the quality of employment,
the impact was mitigated by the signs of economic recovery as of
mid-2009 around the globe, the countercyclical policies adopted in many
countries and the stability of the purchasing power of wages due to
decreasing inflation, which restrained the fall in domestic demand.
Moreover, unemployment increased less than expected, partly due to the
fact that many youths stopped searchingfor jobs
given the unfavourable
conditions of the labour market, the bulletin said.
Towards the end of 2009, labour indicators in many countries were
improving, and by the last quarter of the year, the employment rate in
the region had reached the same levels as that of the same quarter in
2008. This process was accompanied by better quality of employment,
given that in all of the countries with available data, formal
employment began to rise.
The improvements in the labour market continued through the beginning
of 2010, although several countries are far from overcoming the impact
of the crisis and the degree of economic recovery differs significantly
from one country to another, said the bulletin.
The bulletin also examines some of the policies adopted during the
crisis and that have increased opportunities for women and promoted
gender parity. Among them are the measures geared at protecting the
income of the most vulnerable workers, which indirectly benefit women
given their high concentration in those income groups, and programs to
retain and promote jobs especially aimed at the inclusion of women.