Unemployment was 7.7% in the first quarter of 2024

Unemployment was 7.7% in the first quarter of 2024
Unemployment was 7.7% in the first quarter of 2024

The INDEC reported this Monday that in the first quarter of 2024 unemployment reached 7.7% of the population, which marked two percentage points higher than the previous quarter.

The index, which was recorded for the months of January, February and March, is the first fully measured during the government of Javier Milei.

In the last quarter of 2023, the unemployment rate in Argentina had reached 5.7% and had maintained the level reached in the third quarter, when the same figure was recorded, during Alberto Fernández’s time.

During the first quarter of the year, the regions that showed the higher rates of unemployment were the Greater Buenos Aires (9%) and the Pampas region (6.8%). Meanwhile, the region with lower rate unemployment was Whose (4.5%).

When measured by gender, the unemployment rate was 8.4% for women and 7% for men.

In reference to education level of unemployed people, 72.7% have completed secondary school or higher and 27.3% have a complete or incomplete higher and university level.

The unemployment rate is calculated based on people who do not have a job, are available for work and are actively seeking employment, within the economically active population.

As for the search time71.7% have been looking for a job from less than a month to twelve, while 28.3% have been looking for more than a year.

Finally, the pressure on the labor market, made up of the universe of unemployed, underemployed, employed demanders and employed non-demanding workers available, reached 29.5%.

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