The unemployment rate in the second quarter of the year fell to 6.9%, compared to 9.6% in the same period last year, reported the National Institute of Statistics and Censuses (Indec). In addition, the 6.9% for April-June was one tenth below the 7% registered in the first quarter of the current year.
This decrease in the level of unemployment occurred along with a growth in the Gross Domestic Product (GDP) of 6.9% in the second quarter of the year compared to the same period in 2021. Meanwhile, the drop compared to the first quarter was It came amid a 1% GDP improvement in the months April-May-June.
The INDEC report detailed that in the second quarter of 2022 the activity rate, which measures the economically active population over the total population, stood at 47.9%. The employment rate, which reflects the proportion of employed persons in relation to the total population, was 44.6%. And the unemployment rate, people who do not have a job, are available for work and are actively looking for work, was 6.9%.
In the salaried population “an increase was observed in the proportion of those who do not have a retirement discount” of 6.3 percentage points, which went from explaining 31.5% of the economically active population in the second quarter of 2021 to 37 .8% between April and last June.
— INDEC Argentina (@INDECArgentina) September 21, 2022