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This paper analyzes the recent performance,of Latin American labor markets. We find that unemployment,rates are on the risein most countries and,sub-regions of Latin America. The rise in unemployment over the 1990s is not driven by a higher proportion of  women,  adults  or  urban  workers  in  the  labor  force,  nor  can  it  be attributed to  an  increasing  demand  for  skilled  workers.  In  a  few  countries, increasing unemployment  is  caused  by  falling  employment  rates.  In  the  rest, unemployment,rates can be explained,by a,large rise in participation that has not been fully absorbed by increases in employment. We also find that a large and in many,countries growing proportion of workers are employed,at jobs that pay very low wages.  Finally,  returns  to  higher  education  are  increasing  while  returns  to

Latin American Labor Markets in the 1990s: Deciphering the Decade