Unemployment rose to 7.9% in the first quarter, the highest level in Javier Milei

Unemployment rose to 7.9% in the first quarter, the highest level in Javier Milei

Although the Economy shows reactivation signshe unemployment went up to 7.9% In the first quarter of the year from 7.7% registered in the same period of 2024, according to data from the National Institute of Statistics and Census (INDEC). Reached its highest level since 2021when the country was recovering from the fall in production by the Coronavirus pandemic. By extrapolating the data to the total population, in Argentina there are 1,790,000 unoccupied, according to the calculations of Scope.

In the first quarter of 2025, the Activity rate (TA) -What is the economically active population (PEA) on the total population- reached the 48.2%while the EMPLOYMENT RATE (TE) -What measures the proportion of employed people in relation to the total population- it was 44.4%.

“The important thing about this data is the change in the composition of the occupation. Employment on its own grew strong (from 21.9% to 23.5%) and unregistered salaries (from 35.7% to 36.3%) Within workers in dependency relationship, “he analyzed in dialogue with Scope Luis CamposResearcher at the Institute of Studies and Training of the CTA – Autonomous.

In that line, the informality rate, that was from 40.8% In the first quarter of 2024, he reached 42% between January and March 2025.

Argyn.png

“Only 46% of employed people had wage employment registered in the first quarter of 2025. It is the lowest level since 2007”highlighted the sociologist Daniel Schteingart.

In that line, the tendency to Labor precarizationwhich has been more than a decade, according to the specialist.

In recent times there are three phenomena in the labor market: A salary drop even with downward inflation (only private registered), while there is also a loss of jobs and one market precarizationsince the registered jobs turn towards the unregistered ones, he explained Hernán Letcher Director of Strain.

“It was a very bad fact. In the first place, because a relationship between activity and employment is observed, that is, when the activity improves unemployment and vice versa, but the opposite happened here: a rebound of the very strong activity of 6.2% in the first quarter of 2025 compared to 2024 – which had been very bad in relation to the activity – and there was an increase in unemployment, small, but a small increase, but a small increase, but a small increase, but a small The economist, Juan Manuel Telechea, emphasized. It is also observed that “It increased the account a lot and increased informality,” he completed.

For its part, Federico Pastranaof CP-Consultants, highlighted that “The underemployment is practically at the same levels as in the first quarter of 2024 (in fact, something below) and fell with respect to the previous quarters. That is, it stopped compensating the unemployment.”

As for the unemployment rate of young people (from 14 to 29 years old) an increase of 17.3% to 19.2% in women was observed, while in men it went from 14.1% to 15.1%. “Unemployment in young people climb at record levels. While in the last two years the unemployment increases 1 pp for the young population the increase is 2.3 pp,” said the Institute of Public Thought and Policies (IPyPP) from the Institute of Thought and Public Policies (IPyPP)

Unemployment by regions

He Greater Buenos Aires It was the region with the greatest unemployment when located in the 9.1% and there was 1.2 percentage points (pp) above the average of the entire country. At the other extreme, the Patagonia It was the least unemployment with the 4.9%, about 3 pp below the global.

Indec.jpg

Source: Ambito

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest Posts