2. Employment and social trends by region
X Table 2.2 Estimates and projections of working hours, employment, unemployment and labour force, regional and subregional, Americas, 2019–23 Region/subregion
Ratio of total weekly hours worked to population aged 15–64 (percentages)
Total weekly working hours in full-time equivalent jobs (FTE = 48 hours/week) (millions)
2019
2020
2021
2022
2023
2019
2020
2021
2022
2023
Americas
26.5
22.9
25.2
26.2
26.4
372
324
359
374
380
Latin America and the Caribbean
26.0
21.8
24.6
25.5
25.8
235
199
226
237
241
North America
27.5
25.0
26.4
27.3
27.7
137
125
132
137
139
Employment-to-population ratio (percentages)
Employment (millions)
2019
2020
2021
2022
2023
2019
2020
2021
2022
2023
Americas
58.7
53.6
55.5
56.5
56.9
463
428
448
460
469
Latin America and the Caribbean
57.8
52.0
54.2
55.3
55.8
283
258
272
281
287
North America
60.1
56.2
57.7
58.5
58.8
180
170
176
179
182
2022
2023
Unemployment rate (percentages) 2019
2020
Unemployment (millions) 2021
2022
2023
2019
2020
2021
Americas
6.4
9.3
8.3
7.4
7.0
31.6
44.0
40.7
37.0
35.4
Latin America and the Caribbean
7.9
10.1
10.0
9.3
8.8
24.3
28.8
30.1
28.8
27.6
North America
3.9
8.2
5.7
4.3
4.1
7.3
15.2
10.6
8.2
7.7
Labour force participation rate (percentages)
Labour force (millions)
2019
2020
2021
2022
2023
2019
2020
2021
2022
2023
Americas
62.7
59.1
60.6
61.0
61.2
495
471
489
497
504
Latin America and the Caribbean
62.7
57.8
60.2
61.0
61.2
307
287
302
310
315
North America
62.6
61.2
61.2
61.1
61.3
187
185
186
187
189
Source: ILOSTAT, ILO modelled estimates, November 2021.
Labour market slack remains significant in North America – as reflected in unemployment, low participation and those wanting more work, despite reported shortages and hiring difficulties, particularly in some sectors (IMF 2021a). The EPR has increased from 2020 levels, but remained below pre-pandemic levels in 2021 and is expected to remain below them through 2023 (table 2.2). The LFPR, which remained constant in 2021, is expected to increase only slightly in 2023 and remain below its 2019 level. The unemployment rate saw a large drop in 2021 and is expected to decline further in 2022, but is unlikely to have returned to its 2019 level by 2023.
The lag in labour market recovery arises from various factors, including the impact of the ongoing health crisis on both labour demand and labour supply. On the demand side, the crisis prevents a full reopening of the economy, and the continuing uncertainty makes firms reluctant to hire. The gradual and uneven reopening of the economy along with shifts in consumer preferences are also influencing labour demand trends. On the supply side, the fear of contracting the virus deters many from re-entering the labour market. In particular, in sectors and occupations where potential exposure to the virus is high, for example food service, many employers are finding
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