Latin American, Caribbean Unemployment Rate Expected to Fall in 2013

Edited by Juan Leandro
2013-10-31 16:40:12

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Kingston, October 31 (RHC) -- The average urban unemployment rate for Latin America and the Caribbean is expected to decline slightly this year, according to an official report released on Wednesday.

A report by the Economic Commission for Latin America and the Caribbean and the International Labor Organization has predicted that the urban unemployment rate in the region might drop from 6.4 percent in 2012 to 6.3 or 6.2 percent in 2013 to an unprecedented low.

However, the report said the slowdown of global economy, has slackened the region's exports, increased financial market volatility and intensified the uncertainty of future capital flows in the region.  In addition, gender gaps in the workforce continued to narrow in the first six months.

The good news is that, although it was not plain sailing for Latin America and the Caribbean, the overall regional economy grew 2.5 percent in the first six months of 2013.


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