Wal-Mart maintains its place as the region's largest job-generator. Photo: Mike Mozart/Flickr
Region’s largest employers increase workforce by 2.5 percent
The region’s largest employers increased their workforce by 2.5 percent in 2014, to 6.3 million, according to Latin Trade’s Latin America Top 100 Employers, which ranks firms by their total staff in the region.
By David Ramirez
Total jobs in Latin Trade’s ranking have grown significantly over the past few years when compared to the 4.4 million registered in 2009. This is consistent with data from the UN’s Economic Commission for Latin America (ECLAC) showing urban unemployment in Latin America and the Caribbean falling to 6 percent in 2014 from 8.1 percent in 2009.
Clearly, the boom of labor-intensive industries and services, such as retail, food & beverages, energy, banking and telecoms contributed significantly to this outcome.
Retail is by far the largest job-generator in the ranking, accounting for about one-third of the total payroll in 2014. Further, four retailers are amongst the top 10 companies in the index, with Wal-Mart USA (which mainly reflects activity in Brazil) and Walmart de Mexico maintaining their first and second places.
These two companies, however, increased their workforce only moderately, whereas peers such as Carrefour (18th in the ranking), Oxxo (13th), Grupo Coppel (23rd) and Soriana (24th), did so much faster. Cencosud was the only large employer in retail to reduce payroll in 2014 (by nearly 1 percent).
Femsa (3rd) retained its place in …
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