The labor market indicators described in the third quarter of 2021 a “total recovery” of the effects caused by the pandemic, and also showed sensible advances with respect to the situation of the 2016-2019 period, according to a report prepared by the labor portfolio .
“The main factor that promotes this new labor scenario is none other than the notable growth of the employed population,” was highlighted in the Monthly Panorama of Registered Work released this Thursday by the Ministry of Labor, which also cites results of the Survey Household Permanent (EPH-INDEC).
As a result of the dynamism verified in the creation of jobs in recent months, “in the third quarter there is the largest number of people employed in the total of the agglomerates surveyed by the EPH since 2003”.
The unregistered employment rate for the third quarter of 2021 is one of the lowest since 2003, since it reached 33.1% of total salaried employment and is 1.9 percentage points below the third quarter of 2019
In the 31 agglomerates surveyed by the EPH, the employed population reached 12.4 million, which means that in the third quarter of 2021 almost 1.7 million people joined employment compared to the previous year.
Likewise, the employment rate (the relationship between employment and the total population) presents the highest value since 2013.
For its part, the unregistered employment rate for the third quarter of 2021 is one of the lowest since 2003, since it reached 33.1% of total salaried employment and is 1.9 percentage points below the third quarter of 2019.
In addition, there is a significant growth in self-employment, mainly linked to the expansion of self-employment.
In the third quarter, the highest number of employed persons is verified in the total of the agglomerates surveyed by the EPH since 2003
Another important aspect is the evolution of the participation of the working-age population in the labor market, especially considering that in 2020 a large number of people had to withdraw from the workplace, both for health reasons and due to restrictions on employment. Mobility.
In this dimension, the third quarter of 2021 also shows a clearly positive scenario, because the activity rate (the indicator that reflects the relationship between the active population and the total population) is one of the highest in the statistical series surveyed since 2003.
There is a significant growth in self-employment, mainly linked to the expansion of self-employment
Finally, the expansion of employment resulted in a significant drop in the unemployment rate.
In this sense, it was pointed out that as a result of the strong expansion in the number of employed persons, which exceeded the growth of the population’s participation in the labor market, there was a reduction of 3.5 percentage points in the unemployment rate, which reached 8.2 in the quarter.
In the third quarter of 2021, the unemployment rate is the lowest of the third quarters surveyed between 2016 and 2019.
