Meanwhile, the disaggregation of unemployment by gender was located in the 6.9% for womenand the 5.7% for men.
In this sense, a significant disparity is observed between regions, with those that showed the highest unemployment rate being Pampeana and Greater Buenos Aires, with 6.8% and 6.7%, respectively. “The Buenos Aires suburbs – which concentrates almost a quarter of the national population – was the area with the highest incidence of unemployment (7.5%)“, they pointed out from LCG.
On the other hand, the lowest unemployment rates are observed in Whose (4.1%), Patagonia and Northeast (4.3%).
Regarding the educational level of unemployed people, 68.3% have up to complete secondaryand 31.7%, with higher and university level, complete or incomplete. Regarding the search time, 66.4% have been looking for a job between 1 and 12 months, while 33.6% have been looking for more than a year.
What types of jobs are created in Argentina?
The employment rate fell 0.4 pp, reaching 44.6%. Within this population, 74.2% are salariedand 36.8% of them do not have a retirement discount. On the other hand, 22.3% are self-employed, 3.2% are employers and 0.3% are unpaid family workers.
“Within the employees, the creation of 401,000 formal jobs compared to a year ago, which was combined with a drop in 205,000 independent jobs and others 10,000 informal salaried positions“, they highlighted from LCG.
In relation to the employed population, the EPH highlights the increase in the employment rate busy plaintiffs, which went from 14.8% to 16.2%. In this way, in Argentina the number of people looking for more than one job to support themselves has increased.
Multiple employment: the number of people who need more than one job grew in the second quarter
The latest report, from the end of August, from the consulting firm Ecolatina indicated that in Argentina 10% of workers have more than one job and a growth of 25% has been observed since the beginning of 2018.
In this sense, the EPH showed an increase in the job seeker rate of 1.4 pp, which is mainly explained by the proportion of underemployed demanderswhich increased their participation by 1.1 pp (from 6.3% to 7.4%).
In that line, Matias GhidiniCEO of GhidiniRodilstressed that “the labor market is characterized by loss of real salary“In 2023, we will be facing the sixth consecutive year of salary loss, versus inflation.”
Why is moonlighting increasing?
Moonlighting is not necessarily associated with the objective of shore up income to avoid falling below the poverty line. It is also linked to the need to sustain a certain standard of livingas it shows marked growth in higher deciles.
This way, “The problem is not one of employment but of its quality: Low incomes stimulate participation in the labor market and what does not adjust for quantities not only adjusts for prices but also for welfarereducing leisure and education time, for example,” he noted Ecolatina.
The phenomenon of moonlighting hides two negative factors: on the one hand, the drop in income and on the other, the quality of jobs.
First of all, the income of workers continue depressed (they accumulate a decline close to 20% since 2017) and are continually put in check with a inflation that does not give truce.
Secondly, the quality Employment also appears at the center of the scene. Since 2018 only one in four jobs created was under the category of registered employeesthe rest operate under the informality I self-employment.
What is expected for this year?
According to LCG, labor supply is expected to remain at maximum levels based on the need for households to supplement income, due to the drop in purchasing power in recent months.
At the same time, they warned that “the administration scenario of the restrictions directly attacks the investment and the activity and, therefore, against genuine job creation”.
For these reasons, “no big changes expected“, but the growth of the economically active population, if not accompanied by parallel job creation, could generate an increase in the unemployment rate, which – according to estimates LCG– would return to close to 8% for the rest of the year.
Source: Ambito
