Factor Trabajo

Pension systems are fundamental pillars of both present and future well-being for populations in any society. But what exactly are they, and how do they work in Latin America and the Caribbean?

What picture comes to mind when you think of the word “leadership”?

In March 2018 we published the first version of this note describing some of the characteristics of monopsony, a phenomenon increasingly present in the labor markets of Latin America and the Caribbean. Six years later, we decided to update this blog with new references and recent data that account for a major market failure and may be one of the causes of persistent low labor productivity in the region.

We may often feel confused when talking about artificial intelligence (AI) and its relevance today. It is therefore important to be clear that, unlike other automation processes that have been tried before and throughout history, rather focused on repetitive tasks, AI refers to any technology that enables computers to imitate human abilities.

What Is Artificial Intelligence?

“Hello, can you see me?” This was the question with which Peruvian entrepreneur and founder of TV Plateada, Cecilia Barreto, opened her remarks at the EU-LAC Silver Economy Forum.

If you walk through almost any city in Latin America, you are likely to come across many small businesses or entrepreneurial projects. In some cases, they were created by people who had no other option—and they likely do not generate income that truly reflects the effort invested. In other instances, the business emerged in response to a neighborhood or market need, and you might even wonder why you did not think of it yourself, because it is clear that the owners—and often the employees too—are running successful operations. 

“The real complaint of the worker is the insecurity of his existence. He is not sure he will always have a job, he is not sure he will always be healthy, and he foresees that one day he will be old and unable to work.”

Although these words sound like they were written for today, they were penned over a century ago by Otto von Bismarck, the German chancellor known for leading the unification of Germany—and for laying the foundation of modern social security systems.

When Gabriel García Márquez was working on one of his most iconic stories, “No One to Writes to the Colonel,” it was 1960, and in Colombia, each woman had an average of nearly seven children. He himself had 11 siblings, which was not unusual in his hometown of Aracataca.

In 2024, Brazil chaired the G20, a coalition of the world’s largest economies that encompasses nearly two-thirds of the global workforce. On the occasion of the G20 Summit held on November 18-19 in Rio de Janeiro, this blog post summarizes the key discussions that took place within the Employment Working Group (EWG), with the Inter-American Development Bank (IDB) participating as an invited institution.

Four key themes were prioritized for discussions in 2024:

In Latin America and the Caribbean, there are currently 8 million older people with care needs, and due to rapid population aging, this figure is projected to triple by 2050. To cater to the needs of older people, there is a workforce of 3 million paid caregivers, and at least 8 million unpaid caregivers in the region.