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

Among selected Latin American countries, Colombia had the highest share of indigenous population with an average per capita income below the extreme poverty line, at 46.8 percent. Ecuador followed second, with 28.5 percent of indigenous people living in extreme poverty. Those two countries also had the highest share of indigenous people living in poverty.

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Honduras was the country in Latin America with the highest share of population living on less than 3.20 U.S. dollars per day. The Central American nation had 26.4 percent of its population living on less than 3.20 U.S. dollars a day, while Colombia came second highest with 14 percent. On the other hand, Uruguay had only 0.8 percent of poverty headcount ratio, featured as the lowest share in the region.

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Graph and download economic data for 90% Confidence Interval Upper Bound of Estimate of Median Household Income for South Carolina (MHICIUBSC45000A052NCEN) from 1989 to 2023 about SC, households, median, income, and USA.

Since 2005, the share of indigenous population with an average per capita income below the extreme poverty has remained above the minimum of 16 percent in Latin America. In 2022, the percentage reached its lowest score of 16.6, a considerable decrease in comparison to the previous year. Furthermore, that year Colombia had the highest share of indigenous population living in extreme poverty.

Graph and download economic data for 90% Confidence Interval Lower Bound of Estimate of People of All Ages in Poverty for South Carolina (PECILBAASC45000A647NCEN) from 1989 to 2023 about SC, child, poverty, persons, and USA.

In 2022, indigenous women in Latin America had a slightly higher share people of living under extreme poverty than indigenous women. Throughout the time of reference, the disparities amongst those genders haven't been extremely noticeable, with the largest difference being 2.7 percentage points. Overall, 16.6 percent of indigenous people in Latin America had an average per capita income below the extreme poverty line in 2022.

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In 2022, less than eight percent of the population in Latin America had either a high or upper-middle income level. Slightly over a fifth of the population fell in the non-poor with low incomes' stratum.

Based on the degree of inequality in income distribution measured by the Gini coefficient, Colombia was the most unequal country in Latin America as of 2022. Colombia's Gini coefficient amounted to 54.8. The Dominican Republic recorded the lowest Gini coefficient at 37, even below Uruguay and Chile, which are some of the countries with the highest human development indexes in Latin America. The Gini coefficient explained The Gini coefficient measures the deviation of the distribution of income among individuals or households in a given country from a perfectly equal distribution. A value of 0 represents absolute equality, whereas 100 would be the highest possible degree of inequality. This measurement reflects the degree of wealth inequality at a certain moment in time, though it may fail to capture how average levels of income improve or worsen over time. What affects the Gini coefficient in Latin America? Latin America, as other developing regions in the world, generally records high rates of inequality, with a Gini coefficient ranging between 37 and 55 points according to the latest available data from the reporting period 2010-2023. According to the Human Development Report, wealth redistribution by means of tax transfers improves Latin America's Gini coefficient to a lesser degree than it does in advanced economies. Wider access to education and health services, on the other hand, have been proven to have a greater direct effect in improving Gini coefficient measurements in the region.

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The poorest 5 percent of the population in Brazil received a monthly income of merely 239 reals in 2023, with their jobs as their only source of income. By contrast, the average income of workers who fall within the 40 percent to 50 percent percentile, and from 50 percent to 60 percent are 1,639 and 1,970 Brazilian reals, respectively.

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