OECD: Middle Class in Latin America Economically Vulnerable

Even though the growing middle class in Latin America is becoming an engine of economic progress, this group remains economically vulnerable when compared with high income OECD countries, according to the OECD Development Centre’s Latin American Economic Outlook 2011.

‘A growing and vibrant middle class is a sign of good economic prospects in Latin America,’—said Ángel Gurría, Secretary General of the OECD —‘However, Latin Americans in the middle of the income distribution still face serious hurdles in terms of purchasing power, education and job security. These groups still have some way to go to be fully comparable to the middle classes in more advanced economies.’ – OECD