Middle Class in Latin America is Economically Vulnerable, says OECD.

     This was published at Latin America Outlook 2010, at OECD.org and this is a summary.The title is above.

       ¨A growing and vibrant middle class is a sign of good economic prospect in L.A.¨ Said, Ángel Gurria, secretary general of the OECD. ¨However, they still face serious hurdles in terms of purchasing power, education and job security.
         Labour market informality remains high among this segment of the population as informality goes hand-to-hand with low social-protection coverage, on average in L.A. fewer than half of these workers will benefit from a social safety net when they get old or lose their jobs. In Chile 39% of the population within this group does not contribute to any pension scheme, in Brazil 52%, and in Bolivia 95%.
         Education is the surest way to lift child to higher social and economic levels, but the ability of education system in L.A. to boost social mobility remains very limited. The quality of the education received is closely linked to the socio-economic background.
          High levels of labour informality, low coverage of social-protection programs and limited fiscal resources to improve public services could cancel-out the possible benefits of a growing middle class in L.A.
         Instruments for creating more opportunities for upward mobility through more and better education include, increasing the quality of public education, through measure such as: Better administration of schools, a modern system of evaluation, better recrutment and training of teachers as well as better incentive systems, and financing tertiary education through grants and loans.