Buenos Aires Times

economy Lowest in 2 years

Unemployment drops 1.1% to end 2017 at 7.2 percent

The INDEC’s latest Permanent Home Survey (EPH) suggests that around three million people in the country face serious job-related problems.

Wednesday 21 March, 2018
Job data are a complex issue in Argentina given that around 30 percent of the nation’s workers are paid ‘under the table’.
Job data are a complex issue in Argentina given that around 30 percent of the nation’s workers are paid ‘under the table’. Foto:Perfil-File

Unemployment in Argentina dropped 1.1 percent in the last quarter of 2017 to end the year at a rate of 7.2 percent, the INDEC statistics bureau reported Tuesday.

The rate of unemployment also registered a 0.4 percent year-on-year decline from 7.6 percent in the last quarter of 2016.

It is country's lowest unemployment rate in two years, while no major urban centre registered double-digit unemployment, the INDEC found.

PROBLEMS REMAIN

Job data are a complex issue in Argentina since, according to widely accepted estimates among State and private entities, around 30 percent of the nation’s workforce is paid ‘under the table’.

The INDEC’s latest Permanent Home Survey (EPH) suggests that around three million people in the country face serious employment-related issues including underemployment.

The survey found the lowest level of unemployment in San Luis city at 1.2 percent, followed by Mendoza and Posadas at 2.7 percent.

Coastal resort city Mar del Plata showed the highest rate of unemployment at 9.3 percent followed by Greater Buenos Aires at 9.2 percent.

Buenos Aires City ended 2017 with an unemployment rate of 5.9 percent.

-TIMES

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