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News > Latin America

Unemployment Rates in Argentina Grow

  • A man walks the street near the Casa Rosada Presidential Palace in Buenos Aires, Argentina Sept. 20, 2018.

    A man walks the street near the Casa Rosada Presidential Palace in Buenos Aires, Argentina Sept. 20, 2018. | Photo: Reuters

Published 20 September 2018
Opinion

Argentina is going through an economic crisis due the neoliberal policies of Macri's administration.

The unemployment rate in Argentina increased to 9.6 in the second trimester of 2018, 0.5 points since the beginning of the year, according to the National Institute of Statistics and Census (INDEC).

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During the same trimester of 2017, between April and June, the rate was at 8.7 of the economically active population in Argentina.

Of those percentages, 21.5 percent of the unemployed population are women between 14 and 29 years. Men in the same age range make up 17.3 percent.

The unemployment rate between the first and the second trimester increased by 0.7 points, while women’s increased by only 0.2 percent.

According to official data, the underemployment rate is at 11.2 percent, while the rate of people actually working and demanding employment is at 16 percent.

This is the highest unemployment rate in the last few years, but not comparable to previous decades due to changes in the measurement criteria, says a source from the INDEC.

The same institute also registered a year-over-year fall of 4.2 percent of the GDP in the second trimester, breaking with a period of five consecutive quarterly rises.

Argentina was experiencing deep financial instability between April and June, on top of a long drought that has affected agriculture, one of the main economic drivers of the country.

The country registered its highest unemployment rate in the second trimester of 2002, when it reached 24.1 percent after a deep economic, political and social crisis.

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