Argentina's Unemployment Highest in 14 Years

The unemployment rate in Argentina reached 10.6 percent in the second quarter, with more than two million people out of work, becoming today the highest value in the last 14 years.

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According to a report by the National Institute of Statistics and Censuses (Indec), entitled Labor market, rates and socio-economic indicators, the lack of work - associated with the serious economic situation of the country - impacting more strongly on young women and It occupies 23.4 percent against 18.6 percent of not working men.

The numbers reflect that unemployment in the second quarter of the year, without even counting the economic impact registered in August, returned to 2005 levels.

In just one year almost 200 thousand people began to swell the ranks of unemployed in the 31 urban agglomerates that are taken into account by Indec for the elaboration of the index. Extrapolated to the rest of the country this number is even higher, reflect local media.

The report details that in the period evaluated corresponding to the total urban places show that the activity rate is 47.7 percent, the employment rate is 42.6 percent and the unemployment rate is 10.6 percent.

When making a comparison it was revealed that the region of the so-called Greater Buenos Aires registered the highest unemployment rate (11.9 percent) and the Northeast, the lowest (3.7 percent).

In the youth range, unemployment grew from 21.5 to 23.4 percent in women and from 17.3 to 18.6 percent in men compared to the same period last year.