The number of employed people remained below 1.7 million people. The setback was driven by the situation on the coast.
The rate of employment fell in August to 58.2%, which implies that the number of employed people in Uruguay fell below 1.7 million people, according to the latest technical bulletin of the National Institute of Statistics (INE).
In turn, according to the data released today by the INE, the rate of unemployment It rose to 8.2%, which allows us to estimate that there are about 152,300 workers in the country looking for work without finding it.
The rate of employment August was more than a point and a half above that of August last year. But in the same period there was an even greater growth in the number of people offering their work, so there was also an increase in unemployment, which was three tenths above the value of a year ago.
In total, people with jobs in Uruguay there are about 1,698 million, with about 152,300 still searching employment. In any case, despite the moderation of the labor market when compared to previous surveys, the trend-cycle remains stable compared to July, at levels similar to 2016, as analyzed by the economist from CPA Ferrere, Nicolás Cichevski.
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The coast was the most affected area
When evaluating the INE data by geographic region, the decline in the Work market In the month of August, it occurred particularly in the interior, with a drop in the employment rate of half a point, going from 58.1% to 57.6%, while the unemployment rises from 8.1 to 8.8%, possibly as a result of the exchange difference with Argentina.
On the other hand, the numbers in Montevideo were quite different, with an activity level of 64%, a higher employment rate, which reached 59.3%, and unemployment of 7.3%.
Source: Ambito
