Unemployment hits 6.2% in second quarter 

The number is lower than the first quarter but there is more pressure on the job market

Unemployment reached 6.2% in the second quarter of 2023, according to a report by the National Institute for Statistics and Census (INDEC) released on Wednesday. 

The number is lower than in the first quarter (6.9%) but the report showed a jump in the number of people who are currently employed and searching for a job (from 14.8% to 16.2%). 

According to the INDEC, economic activity fell in the same period, both in comparison to the first three months of the year (-2.8%) and to the second quarter of 2022 (-4.9%). The fall is mainly due to a slump in exports, caused in turn by the historic drought’s effect on soy production.

The INDEC measures unemployment by surveying a cross-section of urban centers — 29.4 million people — and measures the percentage of unemployed people who are actively looking for a job compared to the total economically active population (14 million).

This latest report from the INDEC comes after inflation reached a 32-year high in August, with the institute announcing that it would begin publishing inflation figures weekly as a result.

You may also be interested in: Argentina to publish inflation figures weekly after August’s 32-year record


All Right Reserved.  Buenos Aires Herald