Better Jobs Index 2024. Quality of employment in Latin America: Between Informality and Insufficient Wages

The new edition of the Better Jobs Index in Latin America and the Caribbean highlights that, although the quality of employment has reached its highest point since 2010, most workers still face informal conditions and insufficient wages to overcome poverty. The Better Jobs index, which is updated every two years, measures employment in the region comprising two dimensions: quantity and quality of jobs. Quantity is measured by labor force participation and occupation, while quality is measured by labor formality and living wages. From 2010 to 2022, the overall index has shown gradual growth, albeit with notable fluctuations. In terms of gender and age gaps, significant differences persist in the quantity and quality of employment between men and women, as well as between young and adult workers. Although some reductions in these gaps have been observed over time, there is still a considerable way to go to achieve equity in the labor market. Uruguay, Chile, and Costa Rica are highlighted as the countries with the best scores in employment quality by 2022, but most countries have shown improvements since 2010.