Paraguay among countries with highest unemployment rate

RIO DE JANEIRO, BRAZIL – Paraguay has an unemployment rate of 8.5% as of the first quarter of 2022, according to data from the Paraguayan National Institute of Statistics (INE).

This figure, compared to rates in South American countries, places Paraguay’s economy among those with the highest unemployment rate in the region.

According to official data from each country, Brazil and Colombia lead with the highest rate, with 11.1% unemployment each. The second highest rate is in Paraguay, with 8.5%.

Peru is in third place, with the unemployment rate affecting 8.3% of its population, according to the National Institute of Statistics and Informatics (INEI).

Uruguay and Chile have the same level of unemployment, with 7.8%, according to their respective statistical agencies, at the end of the first quarter of 2022.

In Argentina, unemployment reached 7% of the population in the fourth quarter of last year, down 1.2 percentage points compared to the third quarter of 2021, according to data released by the National Institute of Statistics and Census.

Bolivia has 5.9%, higher by 9.7 p.p. compared to the same quarter of 2021, notes the Bolivian National Institute of Statistics.

Unlike Brazil, Colombia, Argentina, and other countries where the unemployment rate is decreasing, in Paraguay, it is increasing from 6.8% to 8.5%.

It is the highest unemployment rate in the country in the last 15 years.

“To find a higher unemployment rate, we have to go back to 2005, when it was 9.4%,” commented employment specialist Enrique López.

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