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Nationwide, unemployment drops to 6.7%, but there is more informal employment

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A broader measurement by the INDEC, which covers the country’s total urban population (42.3 million inhabitants and 19.6 million active population) shows that the unemployment rate in the third quarter of 2022 was 6.7%. It is equivalent to 1,309,000 unemployed.

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This is lower than the 7.1% reported for the country’s 31 largest cities and regions (agglomerations). And that includes 29.2 million people, 13.9 million of the active population and 989,000 unemployed.

This is due to the incorporation of smaller municipalities but with more than 2,000 inhabitants.

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Total urban unemployment jumped in 2018 and 2019 (from 8.9% to 9.2%), grew again in 2020 to 11.4% due to the pandemic outbreak and activity restrictions, is dropped to 7.9% between July-September 2021 and dropped again to 6.7% in the third quarter of 2022.

In turn, the employment rate of 43.3% – 18,307,000 employed – is the highest in the series that began in 2016.

The new data shows that in 2022 there was a significant recovery in the number of employed people compared to the same period in 2021: from 17,519,000 to 18,307,000 people.

The total number of underemployed people – people who work shorter hours and are willing to work longer hours – has declined less. In one year it fell from 12.3% to 11.3% (2,209,000 people), reflecting the precariousness of the job.

The report also shows that out of the total employed, 3,108,000 are looking for another job because they are willing to work more hours or to improve their employment situation, another characteristic of job precariousness.

The INDEC report on the 31 Clusters had indicated that “within the universe of wage earners, the share of those not entitled to a pension discount increased by 4.3 points (from 33.1% to 37.4%). a pension discount has risen to 38.4%, proof of this in smaller cities, the precariousness and informality of work is even greater. And they receive a salary with a gap of 56.77% compared to registered peers.

Thus emerges from the INDEC report which recorded in the third quarter of 2022 that the employed urban population is 18,307,000, of which 12,841,000 are employed. And of this total, 7,914,000 are salaried “with a retirement discount” and 4,927,000 “without a retirement discount”.

At Q3 2022 values, registered earners received an average of $102,247 and unregistered $44,214. A difference of less than $58,030 (56.77% gap).

In Corrientes this distance is 68.34%, followed by Chubut with 67.13%. In the province of Buenos Aires it is 52.8% and in the CABA it is 51.58%.

The province of Córdoba stands out with 47.9% of unregistered wage earners. In Salta there are more unregistered (186,000) than registered (180,000). Also in the Chaco (143,000 against 140,000). And in Santiago del Estero there are as many unregistered as registered (95,000). In the province of Buenos Aires, “black” wage earners represent 39.1% of the total (5,090,000).

Compared to the third quarter of 2019, in 2022 the employment rate is higher: 43.8% against 41.8% and unemployment is lower: 6.7% against 9.2%. Also the level of underemployment (11.3% is less than 13% in 2019).

With 8.7%, the Province of Buenos Aires stands out with the highest unemployment rate and San Luis, with 1.7%, with the lowest rate.

By level of employment, in the City of Buenos Aires it is 51% of the total population (3,004,000) By weight on the total of the country, in the Province of Buenos Aires the number of unemployed is 705,000 plus 916,000 underemployed

Source: Clarin

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