Historically, the development literature concerned with Latin American labour markets has focused on job numbers and productivity. But given the persistence of large shares of informal and now otherwise precarious employment, the authors argue that meaningful analysis also requires consideration of the implications of occupational status for the quality of employment. Based on empirical evidence from recent decades, they conclude that most dimensions of this concept - including social protection - depend on the conclusion of a written contract of employment. This finding leads them to outline policy options for stabilizing formal employment and securing adequate funding for social protection.