Argentina Unemployment Rate

The number of unemployed persons in Argentina increased to 1438 Thousand in the second
quarter of 2019 from 1338 Thousand in the first quarter of 2019. Unemployed Persons in
Argentina averaged 1575.29 Thousand from 1991 until 2019, reaching an all time high of
3406.25 Thousand in the second quarter of 2002 and a record low of 709 Thousand in the
third quarter of 2015.

The unemployment rate in Argentina increased to 9.6% in the second trimester of 2018, 0.5
points since the beginning of the year, according to the National Institute of Statistics and
Census, or INDEC.

During the same trimester of 2017, between April and June, the rate was 8.7% of the
economically active population in Argentina, Telesurtv reported.

Out of those percentages, 21.5% of the unemployed population is women between 14 and 29
years. Men in the same age range are the 17.3%. The unemployment rate between the first
and the second trimester increased by 0.7 points, while womens increased only 0.2%.
According to official data, the underemployment rate is at 11.2%, while the rate of people
actually working and demanding full employment is 16%.

This is the highest unemployment rate in the last few years, but it’s not comparable to
previous decades due to changes in the measurement criteria, says a source from the INDEC.

The same institute also registered a year-over-year fall of 4.2% of the gross domestic product
in the second trimester, breaking with a period of five consecutive quarterly raises.

Argentina was especially affected by a deep financial instability between April and June,
added to a strong drought that affected agriculture, one of the main economic motors of the
country.

The country registered its highest unemployment rate in the second trimester of 2002, when it
reached 24.1% after a deep economic, political and social crisis.

Meanwhile, the Argentine peso closed 2.9% stronger on Thursday, reflecting investor
optimism that the recession-hit country will strike a new standby financing agreement with
the International Monetary Fund aimed at guaranteeing government solvency, Reuters
reported.

The local currency traded at 38.25 to the dollar at the end of the day. It has lost about half its
value this year as investors have been worried about whether Argentina could meet its debt
obligations next year, prompting the government to seek support from the IMF.

An IMF spokesman said on Thursday that “important progress” was being made in talks
between the multilateral lender and the government to strengthen June’s $50 billion standby
deal.

Sky-high interest rates have siphoned growth in the recession-hit country, whose gross
domestic product shrank 4.2% in the second quarter compared with the same period last year.

Investors said the peso got a boost from strong demand by foreign investors for a sale of
government debt on Wednesday. An estimated $950 million of short-term treasury notes
were sold to foreign investors, traders said. The notes were issued with an interest rate of
almost 50%.

Argentina Unemployment Rate 1991-2019

Unemployment refers to the share of the labor force that is without work but available for and
seeking employment.

 Argentina unemployment rate for 2018 was 9.48%, a 1.14% increase from 2017.
 Argentina unemployment rate for 2017 was 8.35%, a 0.33% increase from 2016.
 Argentina unemployment rate for 2016 was 8.02%, a 0.37% increase from 2015.
 Argentina unemployment rate for 2015 was 7.64%, a 0.38% increase from 2014.
Argentina Youth Unemployment Rate 1991-2019

Youth unemployment refers to the share of the labor force ages 15-24 without work but
available for and seeking employment.

 Argentina youth unemployment rate for 2018 was 25.22%, a 2.02% increase from
2017.
 Argentina youth unemployment rate for 2017 was 23.20%, a 1.25% increase from
2016.
 Argentina youth unemployment rate for 2016 was 21.95%, a 1.48% increase from
2015.
 Argentina youth unemployment rate for 2015 was 20.47%, a 1.23% increase from
2014.

Argentina Labour Force Participation Rate 1990-2019

Labour force participation rate for ages 15-24 is the proportion of the population ages 15-24
that is economically active: all people who supply labour for the production of goods and
services during a specified period.

 Argentina labour force participation rate for 2018 was 37.84%, a 0.42% decline from
2017.
 Argentina labour force participation rate for 2017 was 38.25%, a 0.16% decline from
2016.
 Argentina labour force participation rate for 2016 was 38.41%, a 0.08% decline from
2015.
 Argentina labour force participation rate for 2015 was 38.49%, a 0.02% decline from
2014.

Argentina GDP From Mining

GDP From Mining in Argentina increased to 21757.89 ARS Million in the second quarter of 2019 from
20884.53 ARS Million in the first quarter of 2019. GDP From Mining in Argentina averaged 23465.33
ARS Million from 2004 until 2019, reaching an all time high of 26258.14 ARS Million in the third
quarter of 2006 and a record low of 20576.13 ARS Million in the second quarter of 2017.
 POVERTY

Poverty in Argentina rose to 35.4 percent in the first half of the year, the highest officially
recorded level since 2001, the INDEC national statistics bureau reported today.

Around 15.8 million Argentines are now considered poor, INDEC's data indicates, a rise of
1.5 million people in six months. At the end of 2018, 32 percent of Argentines were said to
be living in poverty.

Some 25.4 of households across the country cannot afford their basic food needs, said the
bureau.

Some of Argentina's youngest are among those hit the hardest. In the first half of 2019,
poverty among those aged under 15 reached 52.6 percent. Among those aged 15 to 29, the
level drops to 42.3 percent. For those aged between 30 and 64, the index touches 30.4
percent, while among the retired (those over 65), poverty affects 10.4 percent of individuals.

Poverty has risen in Argentina after a year of economic turmoil, in which GDP contracted by
2.5 percent and inflation skyrocketed to 47.6 percent – its highest recorded tally since 1991.
Meanwhile, the national currency, the peso, devalued hugely in a currency crisis, losing more
than half of its value. The subsequent fall in purchasing power – with inflation outstripping
wage increases – has left many Argentines on the breadline.
Unemployment at present stands at 9.1 percent, but it is expected to rise in double digits later
this year. Inflation is showing no sign of stopping its meteoric rise, with price increases
totalling 6.8 percent in the first two months of 2018.

At the data was released, a group of trade union activists held a demonstration outside the
doors of INDEC's headquarters, expressing their discontent with the government's economic
policies. The protesters handed out 500 kilogrammes of free bread, seeking to emphasise the
hardship facing Argentines.

Minister of Health and Social Development, said Thursday the government "thought we
could lower inflation faster, and clearly, inflation impacts the poverty figure."

"We reiterate that we will continue to prioritise the reduction of poverty," she added. Data
indicates that 23.4 percent of households were below the poverty line at the end of 2018. Of
citizens, 6.7 percent live in extreme poverty, up from 4.8 percent the previous year.