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LatAm needs "productive development policies" to promote employment: UN agencies

Xinhua, October 28, 2015 Adjust font size:

Latin America's poor employment outlook requires "productive development policies" that can create jobs, two United Nations agencies said here Tuesday.

Due to slowing economies, the region will see a 6.6-percent rise in urban unemployment in 2015, the Economic Commission for Latin America and the Caribbean (ECLAC) and the International Labour Organization (ILO) said in a press release.

The increase follows a similar 6-percent unemployment increase in 2014, reflecting "persistent weakness of labor demand and salaried job creation," said the agencies, which together issued a report titled "the Employment Situation in Latin America and the Caribbean".

"Only with clear productive development policies will the region be capable of ... creating more and better jobs for the productive insertion of its labor force," ECLAC Executive Secretary Alicia Barcena and Jose Salazar, director of the ILO Regional Office for Latin America and the Caribbean, said in the publication's prologue.

The agencies called for "boosting investment aimed at a structural change that will lead economic growth potential towards a path of growing productivity."

Specifically, the agencies said countries should implement policies to encourage the creation of small- and medium-sized companies, whose growth should be promoted through greater technology, financing and innovation. Endi