Latin America & Caribbean region obtains third lowest average score in Global Labour Resilience Index 2022

DUBAI, UAE, Feb. 17, 2022 /PRNewswire/ -- Whiteshield Partners, a global strategy and public policy advisory firm, has launched virtually its Global Labour Resilience Index (GLRI) 2022 in collaboration with CEMS, a Global Alliance in Management Education.

GLRI ranked 145 countries in terms of their resiliency in labour markets, policies, and key capabilities to face crises, technological disruptions, and transition to a green economy.

The GLRI 2022, developed by Whiteshield Partners, gauged which countries are most prepared for the future of employment. Alongside structural vulnerabilities, the report ranked countries on their ability to mitigate crises, recover, create jobs, and align themselves with future trends.

For Latin America and the Caribbean, the report has revealed that the region has the third lowest average score in the GLRI. It has further recommended that inequality in the region must be addressed to increase its resilience.  As per the report, the countries in the region on average failed to improve their labour market resilience scores over the last five years. As a result, the region has fallen down the ranks as other regions improve at a faster pace.

Nobel Prize Winner in Economics Sir Christopher Pissarides, Special Advisor & Director at Whiteshield Partners, said: "The GLRI assesses the resilience of labour markets and highlights priority areas to strengthen resilience. One notable urgency is the need for both the public and private sectors to work together in developing and implementing strategic policy reforms to address long-term impacts of any disruption in labour markets."

Fadi Farra, Founder and Partner at Whiteshield Partners, emphasised: "Crises like the Covid-19 pandemic have prompted decisive actions to reduce gaps in labour markets. Policymakers need to transform temporary or short-term fixes into structural changes as we move towards the recovery phase."

Ronaldo Souza, Principal at Whiteshield Partners, noted: "The report reveals which countries are most vulnerable to labour market shocks and long-term disruptions and those who are more resilient. In Latin American and the Caribbean, the region's average score reflects the need for a long-term structural change to enable it to overcome disruptions of any form and increase its preparedness and adaptability in the midst of the ever-changing world."

The full report and country statistics are available on www.whiteshieldpartners.com.

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