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Published in:
2006 | OriginalPaper | Chapter
The Characteristics of Employment in Chile
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All is not well in the world of work in Latin America. The 1980s have long been referred to as the lost decade in terms of economic growth and improvements in social indicators as a result of the profound effects of the debt crisis and the subsequent structural adjustment that was undertaken. But the 1990s were disappointing in most countries. To say the very least, the benefits of structural adjustment, liberalization, and deregulation have been slow in coming, especially in terms of labor market indicators. On average, unemployment in the region increased, the proportion of formal employment that contributes to social security decreased, poverty and inequality worsened, while wages increased moderately.