The Inter-American Development Bank (IDB) has introduced the Better Jobs Index, a tool that for the first time allows users to compare working conditions in 17 Latin American countries.
The Better Jobs Index measures the state of employment in countries through two dimensions (quantity and quality), each consisting of two indicators. The quantity dimension captures how many people want to work (labor participation) and how many actually work (employment). The quality dimension measures how many workers have access to social security benefits (formality) and how many workers receive wages that are sufficient to overcome poverty (living wage). Uruguay, Chile and Panama lead the first edition of the Better Jobs Index.
The index is based on data periodically published by Latin American countries, which the IDB harmonizes through its Labor Markets and Social Security Information System (SIMS). Therefore, the Better Jobs Index allows for comparisons to be made between countries and for analysis of how jobs have evolved in Latin America since 2010. It also provides information on existing gender and age gaps.
“With the Better Jobs Index, the IDB is contributing useful tools that will allow deeper analysis of employment trends in the region,” said Carmen Pages, chief of the IDB’s Labor Markets Division. “The goal is to promote policies that will improve workplace conditions, which is of vital importance for the people and the economies of the region.”
The Better Jobs Index and the 17 detailed country reports can be found on the web: betterjobs.iadb.org.
About the IDB
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.
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