The current economic crisis is spreading to the developing world. Even solid emerging economies are affected. IPC Working Paper 51 reviews labour markets in three Latin American countries over the past two decades and suggests how recessions affect the working poor. This One Pager looks at experiences that might guide policy options to confront the crisis. It examines two large, export-dependent countries, Chile and Mexico, and reviews two kinds of economic period: slow growth (Chile, 2000–2003; and Mexico, 2000–2004); and decline (Mexico’s 1995 tequila crisis).