Latin American Economic Outlook 2017

Youth, Skills and Entrepreneurship

image of Latin American Economic Outlook 2017

The 2017 edition of the Latin American Economic Outlook explores youth, skills and entrepreneurship. Young Latin Americans embody the region’s promise and perils. They stand at the crossroads of a region whose once promising economy and social progress are now undergoing a slowdown. The Outlook identifies potential strategies and policy responses to help Latin America and the Caribbean revive economic growth. While development can stem from different sources, skills and entrepreneurship can empower youth to develop knowledge-intensive economic activities, boost productivity and transform the region’s politics as they transition successfully from the world of school to the world of productive work and create that future they seek. The report highlights valuable experiences and best practices in these fields and proposes strategies to allow Latin America to consolidate long-term growth while assuring continuity in the social agenda.

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Dominican Republic

OECD Development Centre

Dominican Republic has experienced strong and sustained economic growth over the past two decades, and labour market outcomes improved. Unemployment is low, at 2.7% in 2014 according to Socio-Economic Database for Latin America and the Caribbean (SEDLAC) data (this goes to 4.4% if calculated using data from the National Labour Force Survey [ENFT]). The unemployment rate for adults is in line with the Latin America and Caribbean (LAC) average (3.3%), and below the OECD average. Dominican Republic is among LAC countries with the lowest rates of informality, defined as all employed persons not paying social contributions. This group represents 22.5% of the 30-64 year-old workers’ population, well below the 38% LAC average.

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