We use cookies to give you the best online experience. By using our website you agree to our use of cookies in accordance with our cookie policy. Learn more here.Close Me
With the recession affecting the economy, the National Institute
of Statistics and Census (INDEC) reported that unemployment rose to
9.3% of the population in the second quarter of 2016 compared with
the third quarter of last year which was 5, 9%.
As the manufacturing sector is one of the most affected by the
recession - particularly small and medium-sized enterprises - no
wonder that the highest unemployment figures coincide with the
industrial centers.
In addition, unemployment is felt more intensely in the most
populated cities, by the fall in construction. According to the
latest report of the Estudio Bein, the activity in the second
quarter and the first records of the third quarter speak for
themselves: the economy is still in recession with losses reaching
18% in construction, 6% in industry and 5% in trade.
The highest unemployment rates correspond to Gran Rosario -
11.7%, -Mar del Plata - 11.6% - Gran Córdoba - 11.5% -
Greater Buenos Aires - 11.2% - Rio Cuarto - 10.5% - and 10.6%
Buenos Aires -. Thus, the number of unemployed amounted to
1,165,000 people.
"It is clear that we face a serious situation in the labor
market", said the head of the INDEC, Jorge Todesca, at the
press conference.
The above 9, 3% rate increase released by the official body is
coincident with some private estimates, as the Estudio Bein
projected 8.5%, while others, such as Ecolatina projected
unemployment of 12% for the year. Meanwhile, the Directorate
General of Statistics and Censuses of the City of Buenos Aires estimated that the unemployment rate in the first quarter of the
year came to 8,6%, with an increase of nearly two points compared
to 6.8% for at the end of 2015.
Underemployment according to the INDEC represents 11.2% of the
population.
Another fact that emerges from the official report is that one
of every three workers works in the informal economy. According to
INDEC, the proportion of unregistered employment reaches 33.4%.
According to specialists in the labor market, the permanence of
a high unregistered employment rate responds to various factors,
including labor legislation that favors litigation and the heavy
burden of taxes and contributions. According to the categories,
entrepreneurs must face a labor cost representing between 35 to 50%
of salary. Meanwhile, workers suffer a discount of 12% by
contributions.
According to data from the Ministry of Labor corresponding to
last May, registered employment reaches 6,135,000 people,
representing destruction of almost 60,000 jobs from the previous
month.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
O governo federal planeja contratar mais de R$ 100 bilhões de investimentos em rodovias nos próximos quatro anos. Também pretende lançar as licitações de duas grandes ferrovias ainda em 2019.
President Piñera's administration has announced the creation of a new initiative to promote investment and increase transparency in the adjudication processes of state-owned lands for the purpose of installing productive projects.
Emerging markets will likely be the primary driver of global growth in the coming years, and Brazil is positioned positively given an expected radical shift in its economic and political fundamentals and, consequently, a more market-friendly approach.
On December 27, 2018 the Ordinance No. 574 by the former Ministry of Transport, Ports and Civil Aviation, which is currently part of the Ministry of Infrastructure, was published and established rules to the decentralization ...
Some comments from our readers… “The articles are extremely timely and highly applicable” “I often find critical information not available elsewhere” “As in-house counsel, Mondaq’s service is of great value”
