With inflation above 90%, economic activity in Argentina has fallen again for the second consecutive month, according to data released this Wednesday (21) by the National Institute of Statistics and Censuses (Indec). Unemployment in the country also grew again, reaching 7.1%.
The unemployment rate that had been falling in Argentina since the fourth quarter of last year – at the expense of informality, lower wages and the absence of social security – rose again in the third quarter of 2022.
After closing 2021 with an unemployment rate of 7%, the country saw the index reach the lowest level since 2015, reaching 6.9% in the second quarter of 2022. In this last period, however, the unemployment rate rose to 7. 1%.
According to the index, among the 12.9 million employed Argentines in the third quarter of 2022, 27.5% were not wage earners – the majority (85%) were self-employed.
According to the survey, the industrial production index in Argentina also dropped by 1.1% in October, compared to the previous month.
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