Argentina – Unemployment stabilizes at 7%

Less Argentines seem to be looking for a job, according to the latest figures from the Indec statistics bureau.

Official numbers said yesterday that unemployment was stable in the first quarter, at 7.1 percent in the yearly comparison, but that is only because some of the jobless have stopped looking for work, as employment rates continued a declining trend which started in 2011. Indec said only 41.4 percent of the population have a job, down from 41.8 percent a year ago and 42.4 percent in the first quarter of 2011. Although this doesn’t affect unemployment levels, which only include people looking for a job, it points to reduced job creation.

From an economically active population of 18 million, 2.64 million have job problems, as 1.28 million are unemployed and 1.37 million are underemployed, meaning that they work less than 36 hours a week and would like to work more.

Chosen excerpts by Job Market Monitor. Read the whole story at Jobless rate stabilizes at 7% – BuenosAiresHerald.com.