Who are the largest employers in Latin America?
Employment at the 100 largest employers in Latin America has undergone major transformations in the last four years that have largely gone unnoticed. Data from Latin Business Chronicle on the subject are very interesting to analyze these changes.
Between 2009 and 2013, which is the data reported in our latest ranking of Latin America’s Top 100 Employers, the total number of employees at the Top 100 Employers grew from 4.4 million to 6.1 million, an increase of 38 percent. In the same period, the urban unemployment rate in Latin America and the Caribbean fell from 8.1 percent to 6.2 percent, – 31 percent overall decline. Employment among large firms grew faster than the economies of the region as a whole. This is a fact that should give pause to those who believe that the most effective employment generation solutions are indiscriminate promotion of small businesses.In these four years there was also a significant change in the composition of employment. The sectors employing the most workers between 2009 and 2013 were in order: retail, food, telecommunications, and energy, but the four saw their workforce during the period grow less than the average: 35 percent, 33 percent, 36 percent, and 36 percent respectively. During this period the holding companies of Latin American conglomerates also became one of the largest employers: in the last four years, they increased their number of employees by 54 percent.
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