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After almost four years since the outbreak of COVID-19 pandemic, the labour markets in the Caribbean have shown a complete recovery in their employment rates, but they still suffer from persistent gender gaps, youth unemployment, informality, and lower wages.
According to the 2023 Labour Overview report by the ILO Regional Office, the decline in the purchasing power of wages is a challenge that negatively impacts the quality of life of families in the region.
Although Latin America and the Caribbean economies have experienced a widespread recovery, they still face a complex macroeconomic scenario. The international context is characterized by moderate global growth and high inflation.
The report coordinator and expert on labour markets in the region, Roxana Maurizio, highlights that there is still some lag in rural employment, which has widened the employment gap in favour of the existing urban environment before the pandemic.
The situation is even worse for female and young workers who face persistent gender gaps and higher unemployment rates.
The report calls for comprehensive measures that support the creation of formal jobs, strengthen labour institutions, and provide social protection and income to those who need it most.