Uruguay’s labor market is currently at its most favorable state since 2017, according to minister

Uruguay’s Minister of Labor and Social Security, Pablo Mieres, reported an upward trend in the country’s employment conditions.

According to him, Uruguay’s labor market is currently at its most favorable state since 2017, observing a considerable progress in all related indicators.

Over the course of 2021, 2022 and 2023, the nation has reportedly created more than 110,000 job opportunities, Mieres shared during a press conference in Montevideo.

Data from the National Statistics Institute (INE) supports his claim, indicating an unemployment drop to 8.2 percent of the Economically Active Population (EAP) in June.

Mieres emphasized that the current scenario exhibits an increase in individuals identifying themselves as economically active and a simultaneous decrease in unemployment.

Analyzing the first half of the current year, compared to the same period in 2022, Mieres stated that the labor situation in Uruguay is superior to not only the pre-pandemic year of 2019 but also 2018, with several metrics aligning closely with the conditions of 2017.

Meanwhile, unemployment continues to be the second biggest worry for Uruguayans, as per a March survey conducted by consulting firm Cifra.

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