index unemployment in Argentina it fell to 7% in the last quarter of 2021 (October, November and December), which translates into a year-on-year drop of four percentage points compared to the same period in 2020, the National Institute of Statistics and Censuses (INDEC) reported today in a report.
In concrete data, the unemployment rate in Argentina it stood at 13.1% in the first half of 2020 (from January to June) and closed the year at 11%. While in 2021, the rate of unemployment national was 7%, the lowest since 2016.
As for the second quarter of 2021 (July, August and September), INDEC recorded that the rate of unemployment was 8.2%, 1.2 percentage points lower than that at the end of the year.
Indicators show that the labor market in Argentina it began to move upward and steadily during the last nine months of 2021, a year after the resounding fall suffered by the local economy with the arrival of the coronavirus pandemic.
How many people are unemployed
According to the detailed data of the INDEC report, between the months of October and December 2021, some 947,000 people were unemployed in Argentina. This is based on a measurement parameter that counts only 29 million inhabitants within 31 urban agglomerations.
If these data are extrapolated to the total Argentine population (45 million inhabitants), the number of unemployed nationwide could even exceed three million people.
As opposed, the employment rate during the last quarter of 2021 was 46.9%a rise of 0.9 percentage points compared to the third quarter of that same year and 1.9% for the end of 2020 (45%).
