In October the demand for labor in Uruguay fell again and stood at 3% below the record for the previous month, according to data released by the consulting firm Advice that it presented this Monday. 4,914 job opportunities were registered, 158 less than in September of the same year.
After the peak registered in May 2022 – when the number of job proposals reached its maximum in the year – “the demand fell and cut the bullish streak” that had been registered, reflected the report. Since May there was a change in trend which has been maintained in recent months, “with variations of a few percentage points and a slight downward trend”.
However, the demand for labor by Uruguayan companies increased 19% compared to October of the previous year (interanual variation). This equates to 773 additional opportunities.
The areas of activity that usually lead in the labor market were maintained. “despite Argentina —which continues to maintain a significant exchange gap that favors consumption in that country—, The commerce sector accumulated 11% of the labor demand in Uruguay in October”, indicated the survey.
Monitor Advice
Evolution of the demand for jobs
This means that “commerce registered the same number of proposals as the previous month”, and increased 7% year-over-year. In addition, it is the largest employment sector in Uruguay with more than 240,000 contributors to the Banco de Provisión Social (BPS).
For his part, technology remains the leader after representing 26% of job offers in October (1,298 jobs), although in October it retracted 2%. Likewise, Technology registered a year-on-year increase of 62%.
sectors finance, administration and logistics (respectively) closed the top five in terms of the number of jobs they created.
Monitor Advice
Number of jobs posted by activity
On the other hand, the public sector accumulated 6% of the job proposals in October 2022. Professionals, teachers and technicians were the most requested profiles in the State. This sector decreased from the previous month by 3%although it also presented an interannual growth of 10%.
In terms of geographic distribution, in the month of October 76% of the labor calls were sent to Montevideo, 15% to the interior of the country and 8% to Uruguay, without specifying department.
In context
According to data from the National Statistics Institute (INE), in September there was an increase in the unemployment rate, which went from 7.9% in August to 8.3% in that month. This indicator, which measures unemployed people over the Economically Active Population (EAP).
Secondly, the employment rate and the activity rate also increased compared to the previous month, after reaching 56.8% and 61.9%, respectively.
The first indicator measures the number of people employed in relation to the Working Age Population (PET) and the activity rate measures the proportion of people who are active, working or looking for work.
