The report shows that almost 58% of workers in the world is out of formalities
The informal economy is present in all countries, but has influenced Latin America in particular. According to the report of the international work organization (ILO) entitled “Innovative approaches to combat informality and promote the transition to formalities to a worthy job”On page 5, over 2 million workers all over the world informality, which is almost 58% of total global works. In Latin America, about 80% of companies still operate informally.
As for young people in Latin America and in the Caribbean, this group has to face unemployment rates three times higher than those of adults and informality affects 60% of those who work, show the report “Juventud en Exchange: challenges and opportunities for the labor market of Latin America and Caribbean” – Youth in transformation: challenges and opportunities in the labor market of Latin America and the Caribbean, on page 7.
Another fact that attracts attention is the disparity of income. According to the same report, on page 9, young women gain 85% of the revenue received by men on average – a difference that has increased since 2018. In inequality is even more pronounced among those who work alone.
For Daniel Maximilian da Costa, founder and CEO of the Latin American Quality Institute (LAQI), topics such as informality, inequality and sustainability require more and more analysis, with data, regional scraps and attention to the specificity of each region. He underlines that it is essential that company leaders are aware of these realities, especially when the goal is to achieve excellence and quality in their operations.
“The search for quality in the organizations involves a series of interconnected factors, ranging from the enhancement of employees to the commitment for social responsibility and sustainability. This is the reason why the promotion of the debate and the presentation of concrete data become essential. An example is the quality festival, which reaches November 19 in November 2025, which reaches November 19 for November 19, on November 19th which reaches November 19th at 19th.
Source: Terra
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