In 2023, Saint Lucia recorded the highest unemployment rate for individuals with basic education at 24.14%, while Ecuador had the lowest at 1.97%. Other countries displayed varied figures, with Brazil and Costa Rica at 11.89% and 11.14% respectively. Notable year-on-year changes include a 12.22% increase in Panama and a 7.07% decrease in El Salvador. Over the past five years, the compound annual growth rate (CAGR) reflects significant variability, suggesting differing economic conditions and policy impacts across the region.
Future trends to watch in Latin America may include the influence of educational reforms and economic stabilization measures on unemployment rates. Technological advancements and digital literacy could play critical roles in reducing unemployment for those with basic education. Monitoring policy shifts and regional economic partnerships will be crucial in assessing potential impacts on the labor market dynamics across these countries.
Top countries in Unemployment Rate for Persons with Basic Education by Country
| # | 10 Countries | Percent of Labor Force With Basic Education | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Saint Lucia | 24.14 | 2023 | +22.06% | View data | |
| 2 | 2 Brazil | 11.89 | 2023 | +0.084% | -4.31% | View data |
| 3 | 3 Costa Rica | 11.14 | 2023 | +1.35% | +3.05% | View data |
| 4 | 4 Colombia | 10.06 | 2023 | +1.13% | +8.41% | View data |
| 5 | 5 Uruguay | 9.67 | 2022 | +0.57% | View data | |
| 6 | 6 Barbados | 8.95 | 2023 | -1.29% | -1.32% | View data |
| 7 | 7 Chile | 8.9 | 2023 | -0.29% | +3.5% | View data |
| 8 | 8 Panama | 8.29 | 2023 | +16.33% | +12.22% | View data |
| 9 | 9 Belize | 8.06 | 2023 | -2.93% | -0.45% | View data |
| 10 | 10 Argentina | 7.74 | 2023 | -0.5% | -6.93% | View data |
