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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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Mexico

OECD Development Centre

Unemployment for adults in Mexico has been declining since the end of 2009. Although lower than the OECD average, unemployment rates remain in line with the Latin America and Caribbean (LAC) average (at 3% in 2014) according to the Socio-Economic Database for Latin America and the Caribbean (SEDLAC). At the same time, informality – defined as all employed persons not paying social contributions – remains high for adults over the last decade (57%), which is still higher than the LAC average (38%). However, informality rates have been decreasing since 2013 owing to labour market reforms introduced in 2012. These reforms aim to stimulate formal employment by adding new types of contracts that give access to social benefits.

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