Today, the scars of the crisis — and a path to recovery for Latin America. And violence leads Brazil to a racial reckoning.
The coronavirus will leave deep scars in Latin America’s labor market
It will take several years for Latin America’s job market to return to pre-pandemic levels. A report by the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labor Organization (ILO) suggests that, even if GDP growth in the region remains steady at 3 percent or more, it would only return to 2019 employment levels — which were already far from ideal — in 2023.
Why it matters. Should the average GDP growth rate be on par with the average of the last six years (0.4 percent), recovery could take over a decade.
Challenges. The growing possibility of a second wave of Covid-19 infections should strike fear into the hearts of Latin American governments. The bulk of those worst-affected by the pandemic simply cannot work from home due to the nature of their jobs. That includes women (who are the majority of workers in household-related tasks), informal workers (affected by lockdowns), and those in services companies, one of the main employers in the...