The last Results of the Indec Permanent Household Survey show that, in the third quarter of 2021, most of the indicators that describe the Argentine labor market not only reflect a “total recovery from the effects caused by the Covid 19 pandemic”, but also show “sensible advances with respect to to the situation observed during the period 2016-2019 “, highlighted from the Ministry of Labor of the Nation.
At the end of the third quarter of the year, the unemployment rate was 8.2%, down 3.5 points compared to 11.7% in the same period in 2020, reported by the National Institute of Statistics and Censuses (Indec), which added that the decline was also verified in the comparison against the second quarter of the current year, when unemployment was 9.6%.
According to the portfolio in charge of the minister Claudio Moroni, “the main factor that promotes this new labor scenario is none other than the notable growth of the employed population”.
“This evolution is a consequence of the policies carried out since the beginning of the government, during the pandemic we not only take care of health but also workers and companies and thanks to that, once we were able to leave the restrictions behind, the economy responded as he is doing. This is the beginning of a journey, “said Moroni.
In In the third quarter of 2021, the highest number of employed persons is verified in the total of the agglomerates surveyed by the EPH since 2003, highlighted from the Ministry of Labor in a statement, which added that the employment rate (the relationship between employment and the total population), registers the highest value since 2013.
“In just two years (2020 and 2021), Argentina went from presenting one of the lowest employment levels in its recent history, as a result of the outbreak of the pandemic, to one of the highest,” they remarked.
For the Ministry of Labor, “one of the main indicators that reflects job insecurity in our country, the unregistered employment rate, is in the third quarter of 2021, one of the lowest since 2003.”
“Analyzing the evolution of registered work (…) it could be affirmed that this process of expansion of employment is explained in a relevant part by the creation of formal work,” they stressed.
Another important aspect, they pointed out, 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 due to the impossibility of carrying out carry out your work activities.
“In just two years (2020 and 2021), Argentina went from having one of the lowest employment levels in its recent history, as a result of the outbreak of the pandemic, to one of the highest”
In this dimension, the third quarter of 2021 also shows a “clearly positive scenario, the value reached in the last quarterly period surveyed is one of the highest in the statistical series surveyed since 2003.”
Finally, the expansion of employment resulted in a significant decrease in the unemployment rate: Once again, the progress made in this area is not limited to recovering the ground lost during the pandemic, but to offset the setbacks verified in the previous four years, they concluded.
