He National Statistics Institute (INE) published today the situation of the labor market by department, with data corresponding to the November-January quarter. The report illustrates a deterioration in unemployment indicators especially in the littoral zoneparticularly in Leap and Black river. Indeed, these departments are among those of higher unemployment ratessurpassing the 13%
The situation in Artigas and paysandu it is also difficult with unemployment rates of 11.6% and 10.2% respectively.
Although the data deserves to be expanded with a more detailed analysis, it can be presumed with good grounds that the mentioned deterioration of the coast is due to a large extent to the problems that trade is draggingdue to the exchange difference with Argentina.
Since the borders were opened after the pandemic, coastal trade has suffered the impact of the consumption diversion of Uruguayans to Argentina, by taking advantage of the dollar blue (informal) in the quote to convert currency.
At the other extreme, departments like Cologne and maldonado keep robust labor markets, largely boosted by construction and investment in general. In addition, the tourist season has turned out better than expected, which also has a positive impact on these departments.
In such a way that they show unemployment rates of 4.3% and 5.4% respectively. It should be remembered that the national average is 8.5%with Montevideo with a rate of unemployment of 7.4% and Cannelloni, of the 9.2%.
I also know highlights the good situation in departments in the center of the country such as San Jose, Flores and Peachthe latter maintaining the positive impact of the construction of the UPM plant and its related works.
Labor demand grew by 2.7% year-on-year
Also today was announced the Labor Demand Monitor produced monthly by the consultancy Advice. In February the labor demand (calculated based on the number of calls in classified ads and web pages) grew 2.7% year-on-year.
According to Advice “this shows stability in demand after a modest growth of 0.7% year-on-year in January.”