Amid the labor reform debate and despite the decline in jobs among registered workers in the private and public sectors, the INDEC reported that the unemployment rate was reduced from 6.9% in the third quarter of 2024 to 6.6% in the same period this year. That corresponds to 1.6 million unemployed.
This was due to the increase in employment among the self-employed and informal workers (“black”), which represents an advance in job insecurity.
A year ago, unemployment was 6.9% and in the third quarter of 2023 it was 5.7%.
The employment rate, which was 45% a year ago, rose to 45.4% during the same period this year. Meanwhile, the informal labor rate increased from 42.6% to 43.3%.
According to the official report, “Year-on-year employment growth was recorded, while the proportion of employed persons decreased (from 73.1% to 71.9% of employees) and at the same time the proportion of self-employed persons increased (from 23.3% to 24.5% of employees). At the same time, a slight change in the informality rate was observed for the total number of employees (from 42.6% to 43.3%).
In the second quarter of this year, unemployment was 7.6% and the informality rate of the labor force was 43.2%.
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