Unemployment has decreased in the city of Buenos Aires, but there are more informal wages

In the city of Buenos Aires, “in the second quarter, employment grew above activity, so unemployment fell, with greater intensity in women. However, part of the increase in employment corresponds to casual workthat is, employees without a pension discount.

As a result, after reaching 14.7% in the tough months of the pandemic and quarantine in 2020, the unemployment rate fell to 9.4% in the same period of 2021 and fell to 8.1% in the second quarter of this year. The unemployed are 137,000, 74,500 fewer than two years ago, according to the Statistical and Census Directorate of the CABA.

Unemployment is 7.9% among men and 8.3% among women.

Unemployment of 8.1% is lower than the recession years of 2018/2019 when it exceeded 10%.

The Report highlights that:

* The reduction in unemployment was verified in three areas of the city“Preserving the historical differences between them: the South has an unemployment rate almost 2.5 times higher than that of the North (11.1% and 4.6% respectively) “.

• The gross employment rate (calculated on the total population) is 50.7%, 2.6 points higher than in the same quarter of 2021. This represents the addition of 81,500 jobs in the last year.

*All business sectors show a relative increase in employment, but with different intensity. The aggregate of the Services (7.1%), Industry and Construction and Commerce activities grew above all, but below the group (3.6% and 2% respectively).

* CABA has a total of 1,560,500 employees, of which 144,000 are underemployed (24.8% less than a year earlier). In the hard months of the pandemic, the employed were 1,229,000, with 177,000 underemployed.

• Employment continued to grow in the category of normal working hours (between 35 and 45 hours per week), reaching 46.8%. On the contrary, the part corresponding to those who work less than 16 hours a week, of which an important part is linked to the “changas”, is reduced to 11.7%.

* The inclusion of men in business and work between the second quarter of 2021 and today is greater than that of women.

Despite these positive indicators, “the wage population to which the employer does not grant a pension discount amounts to 28.7%, with an interannual increase of 5.8 points”.