Unfortunately with so many sanctions on Venezuela it doesn't allow for capital investment into the country to tap into its rich resources. In addition Venezuela focused heavily on oil and didn't diversify into other industries enough so when demand dried up due to sanctions, a lot of people who found their work in that sector and supporting sectors were out of work.

As for Latin America, many of these countries have debt way over their heads, forcing the country to either tax citizens higher or raise inflation to cover their debt obligations, when you do this you slow down the economy, you can also see an example of this in Greece.

As economies get weighed down by paying national debt, there's less money to go to developing industry and thus expanding the job market