This policy paper examines the dynamics of the youth labor market in Latin America. The school-to-work transition is its point of departure and provides the context for explaining the nature, scope, and range of youth unemployment and underemployment in Latin America. The aim of the paper is to explore the country differences that are essential when planning and implementing youth programs. The paper distinguishes between the general policies and programs that affect the larger youth and adult labor markets and those that are particularly targeted to those that bear the burden of youth unemployment—low-income, female, and unskilled youth.