Urban unemployment in Latam will hit 7% this year, growing 0.5 percent point from last year’s 6.5% rate, the International Labour Organization (ILO) and the Economic Commission for Latin America and the Caribbean (ECLAC)
19,424 layoffs during March only should trigger a response from the government, which already has a serious approval problem.
This year the job market in Chile finally showed signs of weakness ass joblessness caught up to slower economic growth.
Although LatAm is proud of its achievements towards battling unemployment, the positive trends are starting to stall, which may permanently damage the regional economy.
Chile's jobless rate rose more than expected in the first quarter as two years of sluggish growth finally caught up with the labor market, signaling stronger headwinds for Latams's wealthiest economy.
Brazil lost 1.5 million payroll jobs in 2015 amid a contracting economy that has led to high inflation and layoffs in the manufacturing and service sectors, the labor ministry said this week.