MercoPress. South Atlantic News Agency

Argentina's unemployment drops to 11,1%

The unemployment index in Argentina during the third quarter dropped to 11,1% from 13.2% in the same period a year ago according to the latest release from the Statistics and Census Office.

Unemployment in the previous quarter was 12,1%, with underemployment actively looking for a job was 8,9% and passive underemployed 4,2%.

However if the Heads of family program, which distributes a minimum monthly stipend, is not considered the unemployment in the third quarter was actually 14,1%.

The President Kirchner administration has repeatedly announced that unemployment by the end of 2006 should be one digit, and has began making labour legislation more flexible so as to promote contracting. Among the recent announcements is a significant reduction in redundancy payments and making firing less cumbersome.

Regarding underemployed, defined as those who work 35 hours or less a week, the percentage went up from 12,8% in the second quarter to 13% in the third quarter.

Argentina's economically active population totals 15.5 million with 4.2 million having employment problems, of which 2.185 million are unemployed and just over two million have limited employment.

As to the ratio between economically active population and total population, it now stands at 46,2% having advanced from 45,6% in the second quarter. Similarly the ratio between the employed and total population increased from 40,1 to 41,1%.