Labor demand remained stable in the third quarter

Labor demand remained stable in the third quarter

October 13, 2023 – 16:48

There were a total of 16,424 calls, according to the consulting firm Advice, which warned about the impact of the exchange rate difference with Argentina.

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The consulting firm Advice released its new Labor Demand Monitor in the Uruguayan labor market, corresponding to the month of September, thus closing the records for the third quarter, which added 16,424 job calls, an increase of 4.6% compared to the previous quarter and a drop of 24% compared to the same quarter last year.

According to the consulting firm specialized in human resources, labor demand has remained stable throughout this year, although below what was recorded in the second half of last year, when the highest levels of labor demand were observed. post-pandemic.

The data shows a more stable labor market since the beginning of the year. The year-on-year drop responds to lower dynamics in a sector that has been a leader in labor demand, such as Information Technology.(YOU). It should be remembered that this sector is closely linked to the US IT market, which is the main destination for IT services. export Uruguayans in this area.

Likewise, Advice highlights that a notable impact of the situation is being observed in Argentina, which especially affects the sectors linked to tourism: hotels, gastronomy and tourist services themselves; These show an average year-on-year drop of 38% in the quarter and 23% so far this year.

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No news on the political front

In its September report, Advice focused on the possible impact of the proximity of the elections in the Labor Demand. In this regard, he expressed that the recent stability in Labor Demand reflects that employers do not expect major changes, at least for next year.

According to the survey, “studies that monitor the expectations businessmen and consumers account for the expected stability”, while highlighting: “The most recent measurements indicate that the majority of employers in commerce and services did not expect changes in terms of their level of billing and employed personnel.”

On the other hand, the work stated that “a similar perception is expressed by employers in the industry as well as consumers: most of them expect the country’s economic situation to remain unchanged in the coming year.”

Source: Ambito

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