According to the Activity, Employment and Unemployment Report of the National Institute of Statistics (INE), published December 1, the unemployment rate was 8%.
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The data indicate that the number of unemployed in October in Uruguay varied to 143,000 people, from the 167,000 registered in September.
The document also details the characteristics of employed persons, and estimates that 9.9% are underemployed, while the lack of registration for social security, due to their main job, stood at 22.3%.
For its part, the employment rate reached 56.8% (the best number since the pandemic began), 1 percentage point above September this year and also above the same period in 2019.
According to data released by the INE, 1,640,000 people were employed in October, compared to 1,617,000 registered in September.
The labor market was reactivated firmly, said the Minister of Labor and Social Security, Pablo Mieres, in dialogue with Presidential Communication. "It is a significant reduction in unemployment, which maintains a trend that had already started three months ago," he added.
He also appreciated the increase in the employment rate. "There are more people employed this month than in the previous month and there is also an increase in the activity rate," he said.
For the minister, all the indicators are in a situation equal to or better than that registered before the COVID 19 pandemic. The reduction in the unemployment rate and the reactivation of the labor market show that the decision taken when the health emergency began to keep the engines of the economy on was a good decision. This situation allowed the reactivation to take place more quickly and with more rhythm, he stressed.
On the one hand, the fall in employment during the pandemic was notoriously lower in Uruguay compared to that of the region, according to a report released by the Ministry of Economy and Finance (MEF). As an example, the employment / occupation rate fell 2.4 percentage points in Uruguay, compared to 5.4 percentage points in the average for Latin America, adds the report with data from the MEF and the Economic Commission for Latin America and the Caribbean (ECLAC).
The report takes into account the number of employed persons as a reference indicator and indicates that the fall in Uruguay during 2020 was 3.7%, according to the INE, while in Argentina and Brazil the decrease was 9.1% and 7, 7% respectively.
For its part, the number of employed in Uruguay grew 2.5% from January to September 2021, something that continued in October, with 42,000 jobs created in the first 10 months of the year.
Although it is true that in Argentina there was a growth of 11% in the number of employed persons during the first semester of 2021 (without data in the third quarter) and in Brazil there was a recovery of 3.4% in the period January September of In 2021, the greater stability observed in Uruguay is, without a doubt, a positive factor to highlight, the report concludes. ■
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