6 Latin American countries, among the 10 economies in the world, have lost the most jobs due to the COVID-19 pandemic

6 Latin American countries, among the 10 economies in the world, have lost the most jobs due to the COVID-19 pandemic

Six Latin American countries are among the top ten places in the world for the economies with the highest percentages of jobs lost due to the coronavirus crisis.

According to a study by the Santiago Chamber of Commerce (CCS), a total of 40 million people have been unemployed between March and July of this year.

Peru, with 39% of jobs lost during the pandemic so far, is in the first place; followed by Costa Rica (21%) and Chile (21%).

In fifth place in Colombia (12%), Brazil (10%) in eighth, and Argentina in tenth (7%), after the US (8%).

The analysis states that "impacts are more severe and much more dramatic" in Latin America than in developed economies.

These percentages, based on the figures used by the CCS, show the following: in Peru, a total of 1,889,000 people were left without occupation, while in Costa Rica there were 463,000; in Chile, 1,869,000; in Colombia, 2,547,000; in Brazil, 8,876,000; in Argentina, 1,090,000, and in the US, 12,468,000.

Of the countries for which up-to-date information is available, 51 show declines in the employment of varying magnitude, and nine have risen, including Austria (6%) and China (9%).

The study has found that the "common factor in the evolution of the labor markets" has been the "loss of jobs from the measures to contain contagion and the abandonment of the workforce by the newly unemployed".

The CCS foresees a relative improvement in labor indicators in the world in the coming months after the advance of new unconfined tactics and the partial reopening of almost halted activities.

The worst economic outlook had occurred between April and June, according to the study.