Uruguay's National Statistics Institute (INE) has published its latest measurement according to which the employment rate stood at 56.8% in July of 2022, one-tenth higher than the previous month.
In July of 2021, stood at 54.7%, which would show progress has been achieved. On the other hand, unemployment was 8.1% of the Economically Active Population (EAP), from 8.4 % in June.
The employment rate was higher in Montevideo (58.1%) than in the countryside (55.9%), where unemployment was higher (8.2%) than in the capital (7.9%).
”Looking at the characteristics of employed persons, it is estimated that 8.5% are underemployed, i.e. those people who work less than 40 hours (on a regular basis), wish to work more hours and are willing to do so, but do not get more work, while non-registration to social security for their main job stands at 20.9%,” the agency indicated.
In the seventh month of 2022, the employment rate (labor demand) grew slightly to 56.8 percent (from 56.7) while the activity rate (labor supply) remained at 61.8 percent, according to the INE's Continuous Household Survey.
Labor Minister Pablo Mieres has said that the labor market had in 2021 an accentuated recovery process that allowed returning to a situation similar or better to the pre-pandemic of the new coronavirus.
Unemployment is the third main concern of Uruguayans, according to an April survey by the consulting firm Cifra.
Meanwhile, according to data released earlier this month, 43,367 Uruguayan workers were reported to have been on unemployment insurance in July, 2,316 fewer than the previous month and the lowest figure since pre-pandemic pandemic times.
A total of 80.8% of workers were on full unemployment insurance (35,035 people) and the remaining 19.2% collected partial unemployment insurance (8,332).
”The reduction in the number of workers in unemployment insurance was both in total unemployment insurance which dropped from 36,278 to 35,035, or 1,243 workers less, and in partial unemployment insurance which dropped from 9,405 to 8,332, or 1,073 less. This month's data represents a significant reduction with respect to the average number of workers in unemployment insurance registered during 2019 (47,500). About 4,000 workers less, Mieres said.
In Uruguay, 11,242 workers left unemployment insurance in July 2022, an improvement from June's 10,409 and significantly higher than May's 7,560.
These numbers express a modification of the trend observed in the last months that showed a parity between those who terminate the insurance coverage due to dismissal and those who return to work. In this month, almost two out of three workers leave the unemployment insurance due to reinstatement and a little more than a third do so due to dismissal,” the Labor Ministry added.
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