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Labour Overview Series 2022

Weak growth and the global crisis are holding back the recovery of the employment in Latin America and the Caribbean

In a context of partial recovery of labour indicators, the Russian aggression against Ukraine has made the outlook for labour markets in the region more complex. Slowdown in economic growth makes full employment recovery more difficult and increases the risk of informalisation, while accelerating inflation negatively impacts real labour and household incomes. This adds to the enduring distributional effects of the pandemic in a region characterised by very high levels of inequality.