The employment situation in Latin America and the Caribbean

Measuring the outcomes of skills systems, policies and targeted programmes is essential in order to monitor and improve their effectiveness and relevance. Elements of sound assessment processes include: institutions to sustain feedback from employers and trainees; mechanisms to track labour market outcomes of training and systems of accountability that use this information; and, quantitative and qualitative labour market information and its dissemination to all stakeholders.

Skills and employment policies should be viewed together.  The full value of one policy set is realized when it supports the objectives of the other.  For investments in education and training to yield maximum benefit to workers, enterprises, and economies, countries’ capacities for coordination is critical in three areas: connecting basic education to technical training and then to market entry; ensuring continuous communication between employers and training providers so that training meets the needs and aspirations of workers and enterprises, and integrating skills development policies with industrial, investment, trade, technology, environmental, rural and local development policies.

Globally, nearly 68 million young women and men are looking for and available for work,  and an estimated 123 million young people are working but living in poverty. The number who are not in employment, education or training (NEET) stands at 267 million, a majority of whom are young women. Significantly, young people are three times as likely as adults (25 years and older) to be unemployed.

Skills development is a primary means of enabling young people to make a smooth transition to work. A comprehensive approach is required to integrate young women and men in the labour market, including relevant and quality skills training, labour market information, career guidance and employment services, recognition of prior learning, incorporating entrepreneurship with training and effective skills forecasting. Improved basic education and core work skills are particularly important to enable youth to engage in lifelong learning as well as transition to the labour market.