Uruguay’s unemployment rate decreased in July 2023, settling at 7.8% of the Economically Active Population (EAP), a drop from the previous month’s 8.2%, as disclosed by the National Institute of Statistics (INE).
For July, the employment rate rose to 58.6% from its earlier rate of 58.2%.
Simultaneously, the activity rate, representing the labor supply, increased slightly to 63.5% from the previous 63.4%, as per INE’s Continuous Household Survey.
The data also revealed that 9.6% of the employed population was underemployed.
Additionally, 21.9% of the working population had no primary employment registered with social security.
A geographical breakdown showed that unemployment was slightly lower in Montevideo city, at 7.2%, compared to 8.1% in the rest of the country.
At the close of the previous year, December 2022, the national unemployment figure was 7.9%.
President Luis Lacalle Pou’s administration anticipates continued recovery in the job market, with levels reverting to pre-pandemic figures.
According to a survey released by the Cifra consulting firm in March, unemployment remains the second major concern among Uruguayans.