Argentina: Unemployment fell from 8.3% to 7.2%, the lowest since 2003
Source: Linkedin News
By: Aldo Leporati
Gradually, coherent with the pace that the Government has imposed on the rebound of the economy, the employment figures are beginning to show a slight recovery: According to the INDEC, 433,000 people got jobs in the fourth quarter of 2017, 3.8 % more than in the same period of 2016
The employment rate was 43%, 1.1% higher than a year ago. The issue of unemployment is far from being a problem in Argentina: in the 31 agglomerates analyzed by the Indec there are still 2,231,000 unemployed and underemployed (17.4% of the economically active population). This, extrapolated to the whole country, gives the figure of 3.4 million with employment problems (1.4 million unemployed and the rest, underemployed).
Another positive point of the published data is that the number of people entering the labor market was greater than the increase in the population, something that has not been seen for some time. This shows that the labor market began to move positively. In 2018 there could even be another increase, because it will be the second year in a row that the economy will grow since 2011. Within the increase in employment, what should be expected is that formal employment increases, since it began to operate the fiscal reform approved in December of last year.
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