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Tuesday, December 10, 2002

BBC -- Latin American unemployment soars

Seventeen million Latin American people are out of work as the unemployment rate in the region has shot up to its highest level since 1980, according to the International Labour Organisation (ILO).

The rise could "destabilise the two big accomplishments of the 1990s; a shift toward democratic governments and greater participation in globalisation," said ILO regional director Augustin Munoz.

Last year, economic growth in Latin America reached 0.5% while this year the region's economy is expected to shrink 0.8%, ILO Director-General Juan Somavia said.

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