Andean exchange-rate regimes, 1994-2003: a brief for stable but flexible" regimes"

Includes bibliography

The employment situation in Latin America and the Caribbean: Advances and challenges in measuring decent work

At 6.4%, the unemployment rate for the Latin American and Caribbean region overall was the lowest for the past few decades, down from 6.7% in 2011. This is significant, in view of the difficult employment situation prevailing in other world regions. Labour market indicators improved despite modest growth of just 3.0% in the region’s economy. Even with sharply rising labour market participation, the number of urban unemployed fell by around 400,000, on the back of relatively strong job creation. Nevertheless, around 15 million are still jobless in the region. Other highlights of 2012 labour market performance were that the gender gaps in labour market participation, unemployment and employment narrowed, albeit slightly; formal employment increased; the hourly underemployment rate declined; and average wages rose. This rendering was obviously not homogenous across the region. Labour market indicators worsened again in the Caribbean countries, for example, reflecting the sluggish performance of their economies. The sustainability of recent labour market progress is also a cause for concern. Most of the new jobs in the region were created as part of a self-perpetuating cycle in which new jobs and higher real wages (and greater access to credit) have boosted household purchasing power and so pushed up domestic demand. Much of this demand is for non-tradable goods and services (and imports), which has stimulated expansion of the tertiary sector and hence its demand for labour, and many of the new jobs have therefore arisen in these sectors of the economy. This dynamic certainly has positive implications in terms of labour and distribution, but the concern is whether it is sustainable in a context of still relatively low investment (even after some recent gains) which is, moreover, not structured in a manner conducive to diversifying production. Doubt hangs over the future growth of production capacity in the region, given the enormous challenges facing the region in terms of innovation, education quality, infrastructure and productivity. As vigorous job creation has driven progress in reducing unemployment, attention has turned once again to the characteristics of that employment. Awareness exists in the region that economic growth is essential, but not in itself sufficient to generate more and better jobs. For some time, ILO has been drawing attention to the fact that it is not enough to create any sort of employment. The concept of decent work, as proposed by ILO, emphasized the need for quality jobs which enshrine respect for fundamental rights at work. The United Nations General Assembly endorsed this notion and incorporated it into the targets set in the framework of the Millennium Development Goals. This eighth issue of the ECLAC/ILO publication “The employment situation in Latin America and the Caribbean” examines how the concept of decent work has evolved in the region, progress in measuring it and the challenges involved in building a system of decent work indicators, 14 years after the concept was first proposed. Although the concept of decent work has been accompanied since the outset by the challenge of measurement, its first objective was to generate a discussion on the best achievable labour practices in each country. Accordingly, rather than defining a universal threshold of what could be considered decent work —regarding which developed countries might have almost reached the target before starting, while poor countries could be left hopelessly behind— ILO called upon the countries to define their own criteria and measurements for promoting decent work policies. As a result, there is no shared set of variables for measuring decent work applicable to all countries. The suggestion is, instead, that countries move forward with measuring decent work on the basis of their own priorities, using the information they have available now and in the future. However, this strategy of progressing according to the data available in each country tends to complicate statistical comparison between them. So, once the countries have developed their respective systems of decent work indicators, it will be also be important to work towards harmonizing them. ECLAC and ILO are available to provide technical support to this end. With respect to 2013, there is cautious optimism regarding the performance of the region’s labour markets. If projections of a slight uptick —to 3.5%— in the region’s economic growth in 2013 are borne out, labour indicators should continue to gradually improve. This will bring new increases in real wages and a slight drop of up to 0.2 percentage points in the region’s unemployment rate, reflecting a fresh rise in the regional employment rate and slower growth in labour market participation.

Report on the implementation of the ECLAC work programme subregional activities for the Caribbean 2006-2007 biennium [Covering the period 1 Janurary 2006- 31 December 2007]

The focus of the activities of the Economic Commission for Latin America and the Caribbean/Caribbean Development and Cooperation Committee (ECLAC/CDCC) secretariat during the 2006-2007 biennium continued to be on assistance to member governments of the subregion with policy-making and development strategies, especially on issues relevant to the promotion of the economic, social, and environmental dimensions of development in the Caribbean. The Subregional Headquarters for the Caribbean worked closely with member countries of the CDCC in an effort to ensure the relevance of outputs which would inform policy options. This involved the strengthening of partnerships with both regional and subregional institutions and relevant agencies of the United Nations system working in the Caribbean. A major decision was taken to refocus the operational aspects of the secretariat to ensure that they were relevant to the development goals of its members. This involved the introduction of a thematic approach to the work of the office. One of the changes resulting from this was the restructuring and renaming of the Caribbean Documentation Centre. The Caribbean Knowledge Management Centre (CKMC), as it is now known, has changed its emphasis from organizing and disseminating documents, and is now a more proactive partner in the research undertaken by staff and other users of the service. The CKMC manages the ECLAC website, the public face of the organization. Newsletters and all other documents, including Information and Communications Technology (ICT) profiles of selected countries, prepared by the secretariat, are now available online at the ECLAC/CDCC website www.eclacpos.org . The Caribbean Knowledge Management Portal was launched at a meeting of information specialists in St. Vincent and the Grenadines in 2007. In addition to reaching a wider public, this measure was introduced as a means of reducing the cost of printing or disseminating publications. In spite of the unusually high vacancy rate, at both the international and local levels, during the biennium, the subregional headquarters accomplished 98 per cent of the 119 outputs earmarked for the period. Using vacant positions to carry out the assignments was not an easy task, given the complexity in recruiting qualified and experienced persons for short periods. Nevertheless, consultancy services and short-term replacement staff greatly aided the delivery of these outputs. All the same, 35 work months remained unused during the biennium, leaving 301 work months to complete the outputs. In addition to the unoccupied positions, the work of the subprogramme was severely affected by the rising cost of regional and subregional travel which limited the ability of staff to network and interact with colleagues of member countries. This also hampered the outreach programme carried out mainly through ad hoc expert group meetings. In spite of these shortcomings, the period proved to be successful for the subprogramme as it engaged the attention of member countries in its work either through direct or indirect participation. Staff members completed 36 technical papers plus the reports of the meetings and workshops. A total of 523 persons, representing member countries, participated in the 18 intergovernmental and expert meetings convened by the secretariat in the 24-month period. In its effort to build technical capacity, the subprogramme convened 15 workshops/seminars which offered training for 446 persons.