In 2018, around 30.8% of the population of Latin America and the Caribbean lived below the poverty line. In many places, having a job does not guarantee the ability to escape from poverty. This slow and uneven progress requires us to rethink and retool our economic and social policies aimed at eradicating poverty, reducing inequality and ensuring decent work.
A continued lack of decent work opportunities, insufficient investments and under-consumption lead to an erosion of the basic social contract underlying democratic societies: that all must share in progress. The creation of quality jobs will remain a major challenge for almost all the region’s economies.