Latin America and the Caribbean is in a growth trap that has lasted for several decades and the global and regional context limits the space for macroeconomic policies in its favor.
The results of the Economic Study of Latin America and the Caribbean, 2024 show a reduction in the rate of job creation, especially formal jobs, and that groups such as young people, women, older adults, migrants and People who live in rural areas are more likely to have informal jobs. Furthermore, an intensification of the effects of climate change, if mitigation and adaptation policies are not adopted, will cause a significant reduction in the number of jobs generated in the medium term. To address these challenges and mitigate the effects on labor markets, the region must articulate productive development, employment and macroeconomic policies, along with effective climate change adaptation and mitigation measures.
This requires a significant increase in public and private investment, as well as structural reforms to promote sustainable and equitable economic growth.
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