1、#SocialJustice 2022 LABOUR OVERVIEWLatin America and the CaribbeanILO Regional Office for Latin America and the CaribbeanExecutive Summary X2022 LABOUR OVERVIEWLatin America and the CaribbeanExecutive Summary#SocialJusticeXXForewordThe sharp slowdown in economic growth projected for 2023,together wi

2、th limited fiscal space and high levels of inflation,make for a highly complex and uncertain labour outlook for Latin America and the Caribbean.In this context,it is urgent to implement and strengthen policies that contribute to the creation of formal employment and the sustainability of labour inco

3、me.Three years after the onset of a pandemic that caused a deep crisis in the labour markets of Latin America and the Caribbean,the good news is that the economic recovery has allowed employment to return to 2019 levels.The unemployment rate of 7.2 per cent that we had at the end of 2022 is signific

4、antly lower than in 2019,when it was 8 per cent.However,it is important to note that this was achieved in part because,unlike the employment rate,the regional labour force participation rate is still slightly lower than it was before the COVID-19 pandemic.Due to the low growth forecast for the econo

5、my,unemployment will most likely rise(albeit minimally)in 2023.At the same time,the countries of the region will have to face the consequences of a period of high inflation and its impact on wages,which are the main source of income for Latin American and Caribbean families.In addition,it will be ne

6、cessary to closely monitor the evolution of informality,an endemic feature of our labour markets that brings with it job instability,low incomes and lack of social protection.This edition of the Labour Outlook corroborates that employment recovery after the pandemic crisis has been driven by the rec