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The future of work has formidable economic, social, and political repercussions on a global level and, in particular, for Latin American and Caribbean countries, where it will be an issue of particular significance, gi- ven that the region finds itself in a key moment. The decisions made today may change the fate of countries, their workers, and the productive sector as a whole. Two trends will leave their mark on the future labor market in Latin America and the Caribbean: rapid techno- logical change and population aging. From an economic perspective, both trends may generate changes in economic growth and productivity, increase or reduce inequality, and affect employment and income levels. From a social point of view, they will alter how companies, individuals, and the state interact. In the political sphere, they will require a rethinking of education, vocational training, and the configuration of the welfare state itself, demanding from countries an efficient response to common challenges. Although work may not be a pleasant activity (it requires us to leave our families and moments of leisure to perform an activity that implies physical or mental effort to obtain an income), it is an essential part of our lives. In fact, almost half of the income in Latin American and Caribbean countries originates from work, and the vast majority of people depend on their work activity to subsist financially. Furthermore, work goes be- yond income: it is a source of integration in society. As such, our occupation constitutes an important part of our individual identity. The labor market also constitutes the foundation of a social contract, under which many states have attempted to redistribute income or have organized social security systems to protect against loss of income in cases of old age, illness, or unemployment. Therefore, any change in the labor market may fundamentally alter the organization of society and have a defining impact on our wellbeing. Any change in the labor market may fundamentally alter the organization of society and have a decisive impact on our wellbeing 2 | Why this? 4 4 The future of work in Latin America and the Caribbean A great opportunity for the region?

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