Two United Nations agencies have said the labour market in Latin America and the Caribbean will recover slowly after the COVID-19 pandemic.
In a new joint publication, the Economic Commission for Latin America and the Caribbean and the International Labour Organization said if the average growth rate in regional Gross Domestic Product (GDP) held steady at 3.0 per cent, GDP would only return to 2019 levels in 2023.
However, with the average rate seen over the last decade at 1.8 per cent, GDP would not attain 2019 levels until 2025.
With the average rate notched during the last six years at 0.4 per cent, this could not be achieved in the next decade.
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