Latin America: average monthly net wages by country 2024

Uruguay was the Latin American country with the highest average monthly salary as of 2024, with a net value of around 1,088 U.S. dollars per month, followed by Costa Rica, with 947 U.S. dollars per month. 

Employment development areas in Latin America

Following the recuperation in this sector after the job losses endured throughout the COVID-19 pandemic, the unemployment rate persists in its endeavor to stabilize. Informal employment remains as the predominant actor across most Latin American countries, serving as a primary avenue for economic sustenance. Notably, the construction sector has experienced substantial growth, outpacing other relevant industries like tourism and hospitality.

Poverty

Throughout the past two decades, poverty levels in Latin America remain unchanged. Honduras takes the lead as the country bearing the highest poverty rate, with nearly half of its population dwelling in these circumstances. Across the region, the prevalent delineation is that of individuals classified within the non-extreme and lower-middle poverty strata, characterized by modest income levels.