70% of youth in Latin America to work in services by 2030

A joint study by Ayuda en Acción and the Economic Commission for Latin America and the Caribbean (CEPAL) has revealed that by 2030, it is expected that 70% of youth in Latin America will be employed in the service sector. This finding reflects a growing trend in the region towards the tertiary sector, indicating a significant shift in employment structure.

The transition to the service sector is not new, but the scale of this projection underscores the urgency of preparing youth for the demands of an ever-evolving labor market. In the past decade, the service sector has shown robust growth compared to other sectors, driven by digitalization, tourism, and customer service.

However, this shift also presents challenges. High dependence on the service sector can make countries vulnerable to economic crises, as seen during the COVID-19 pandemic. Additionally, the quality of jobs in this sector is often questioned, with concerns about low wages and job insecurity.

CEPAL has urged countries in the region to invest in education and vocational training to equip young people with the necessary skills to thrive in this environment. Training programs in digital skills and customer service will be crucial to ensure that youth can compete in an increasingly demanding labor market.

In conclusion, while the projection that 70% of youth will work in the service sector may be seen as an opportunity, it also serves as a call to action for governments, employers, and educators to address the challenges it poses and ensure that employment in this sector is sustainable and of high quality.