And the informal economy is shrinking

Between 2000 and 2009, urban unemployment in Latin America fell from 8.1 percent to 7.3 percent, the biggest ten year drop in three decades. This according to an expansive new United Nations report which you can download here.

The number of workers in the informal economy also fell by about 6 percent (to 42.7 percent) between 2000 and 2009. However, the income divide between those in the formal and informal economies has grown. That's illustrated in the chart below.

About the Author

Most Popular

  1. A photo of shoppers on University Avenue in East Palo Alto, California, which is flanked by two technology campuses.
    Equity

    An Island of Silicon Valley Affordability Says Yes to More Housing

    East Palo Alto is surrounded by tech riches, but that hasn’t necessarily helped longtime residents, who welcome a state law mandating zoning reform

  2. Life

    How to Inspire Girls to Become Carpenters and Electricians

    Male-dominated trades like construction, plumbing, and welding can offer job security and decent pay. A camp aims to show girls these careers are for them, too.

  3. Equity

    What the Supreme Court Said About the 2020 Census Citizenship Question

    In oral arguments, conservative justices asked about data science, while liberals asked what the citizenship question was really for.

  4. Equity

    The Hidden Horror of Hudson Yards Is How It Was Financed

    Manhattan’s new luxury mega-project was partially bankrolled by an investor visa program called EB-5, which was meant to help poverty-stricken areas.

  5. A group of students talk as one tests a pedal-free bicycle they have built.
    Environment

    How an Ancestor of the Bicycle Relates to Climate Resilience

    Architecture students in Buffalo built their own versions of the "laufmaschine," a proto-bike invented in response to a 19th-century environmental crisis.