Unemployment rises despite economic recovery, data shows

[MilHojas]

Unemployment rises despite economic recovery, data shows​

Unemployment in Argentina rose to 7.9 percent in the first quarter of 2025, according to data from the INDEC national statistics bureau.

This figure represents an increase of 1.5 points compared to the 6.4 percent recorded in the October-December 2024 period. It also rose in comparison with the January-March quarter of 2024, although by just 0.2 points.

The new rate marks an end to the decline in unemployment that had been observed since the second quarter of 2024.

The activity rate – which measures the economically active population as a proportion of the total – fell slightly to 48.2 percent, indicating that fewer people were seeking employment, as it had stood at 48.8% between October and December 2024.

Last week, statisticians with the Buenos Aires City government published its own unemployment report. Unemployment in the capital rose during the first quarter: from 6.7 percent in the final quarter of 2024 to 7.8 percent in the first three months of 2025, it showed.

INDEC reported that across the 31 main urban agglomerations surveyed, there were a total of 1,136,000 unemployed people in the first quarter of 2025. That is, people who actively sought work but were unable to find it.

A year earlier, in the same period of 2024, the figure stood at 1,088,000, meaning around 48,000 more people are now unemployed.

When projected across the country as a whole, the number of unemployed reaches 1,807,000 – some 68,085 more than a year ago.

Daniel Schteingart, Director of Productive Planning at Fundar, pointed out that the comparison with the first quarter of 2023 is “even worse, as around 250,000 more people have become unemployed since then.”

Indeed, during the first quarter under the current government – following a 118 percent devaluation of the peso, a peak in inflation, and a drop in economic activity – unemployment rose sharply.

“Labour market data for the first quarter of 2025 are rather poor. Although the economy has picked up, unemployment hasn’t gone down,” Schteingart noted on social media.

He explained that unemployment rose from 7.7 percent to 7.9 percent, meaning there are around 250,000 more people out of work than in the first quarter of 2023 (when the rate stood at 6.9 percent).

The specialist also noted that “formal employment continues to decline. Only 46 percent of those in work had registered salaried employment in the first quarter of 2025. It’s the lowest level since 2007.”

He added: “There is growth in self-employment and other non-salaried forms of work, and a trend towards precarious employment that has been ongoing for a decade is becoming increasingly entrenched.”

Unemployment rises despite economic recovery, data shows

Unemployment in Argentina rose to 7.9 percent in the first quarter of 2025, according to INDEC data.

www.batimes.com.ar

 

[Avocado]

Not surprised. Things are really worse than they appear. Consumption is down. Restaurants in BA are all empty.

 

[Starfish]

Labor reform is needed but I wonder how many more jobs will be lost if the bill passes.


Between November 2023 and October 2025, 240,000 registered jobs were lost. The public sector lost 63,132 jobs and the private sector 176,908. I would argue that many of the public sector jobs were probably milking the gravy train but the private sector losses is concerning.

 

[MikeYoung]

Labor reform is needed but I wonder how many more jobs will be lost if the bill passes.


Between November 2023 and October 2025, 240,000 registered jobs were lost. The public sector lost 63,132 jobs and the private sector 176,908. I would argue that many of the public sector jobs were probably milking the gravy train but the private sector losses is concerning.


View attachment 10197

I wonder how many of these people ended up freelancing and going to work for Rappi or Uber. Seems like many locally have turned to Rappi for at least part time gigs.

 

[Finance Prof]

Milei eyes labour reform as extraordinary sessions of Congress kick off

Also up for discussion will be bills linked to the Juvenile Penal Code, amending régime for glacier preservation and free-trade agreement between Mercosur and the European Union.

batimes.com.ar

 

[Anchor Baby]

Some of these people seem almost brainwashed by Milei. It is funny watching some interviews. People lost their jobs 4 months ago and still can't find a job and stores are all closing and all their friends are unemployed but they think things will end up well. How?

 

[Esposas]

Some of these people seem almost brainwashed by Milei. It is funny watching some interviews. People lost their jobs 4 months ago and still can't find a job and stores are all closing and all their friends are unemployed but they think things will end up well. How?

I don't think they are brainwashed. Just tired of all the problems from before. I saw this today on the news. It sums up well the mood of a lot of people. Saying the stench smells less than the previous government.

Most of these stores closing had to eventually face reality of imported goods. You can't lock out imports forever so this is normal. I don't know what all of these people will go into as I'm not sure there are enough jobs to go around. We will have to see how the rest of this year and next year goes. Honestly it is a coin toss if things will work out.

 

[MikeYoung]

Some of these people seem almost brainwashed by Milei. It is funny watching some interviews. People lost their jobs 4 months ago and still can't find a job and stores are all closing and all their friends are unemployed but they think things will end up well. How?

I think the same thing sometimes. My guess is eventually it will hit a breaking point. I hear a lot of people on these interviews. They are making African wages and paying first world prices for things. It doesn't add up.

 

[Wally]

Some of these people seem almost brainwashed by Milei. It is funny watching some interviews. People lost their jobs 4 months ago and still can't find a job and stores are all closing and all their friends are unemployed but they think things will end up well. How?

Many Argentines realize there is NO other option for them. Things didn't work out for them with Kirchnerism/socialism and some of them things aren't working out so well for them either.

Honestly Argentina is a very messed up place. Things are cyclical and things go ok until they don't and then it flips upside down again. You have to make the most while you can and just assume that they will probably change again when the next President comes in.

Many of these stores closing are self inflicted. I have seen a lot of stores close down but many of them were not accustomed to this dynamic of falling inflation. There was no normal supply and demand common sense here. Stores if they didn't sell wouldn't mark it down but just keep marking up because prices kept going up. That isn't happening now and there is no demand with less disposable income and also imports flooding in.

So these companies and stores will keep going out of business.

 

[Marianne D]

Many Argentines realize there is NO other option for them. Things didn't work out for them with Kirchnerism/socialism and some of them things aren't working out so well for them either.

Honestly Argentina is a very messed up place. Things are cyclical and things go ok until they don't and then it flips upside down again. You have to make the most while you can and just assume that they will probably change again when the next President comes in.

Many of these stores closing are self inflicted. I have seen a lot of stores close down but many of them were not accustomed to this dynamic of falling inflation. There was no normal supply and demand common sense here. Stores if they didn't sell wouldn't mark it down but just keep marking up because prices kept going up. That isn't happening now and there is no demand with less disposable income and also imports flooding in.

So these companies and stores will keep going out of business.

It is a similar situation for many Americans. I wasn't thrilled with either Trump or Biden. Both were terrible choices for me. I couldn't stomach the thought of Harris being President. It is probably the same with a lot of people with Milei.

I don't agree with many things Trump is doing. Agree we had to control our borders but I find it inhumane how they are treating some here. I doubt many of the jobs these migrants are doing would be done by Americans. Construction, fruit and agricultural jobs, mowing lawns so tough so see them getting rounded up. Also disagree with the tariffs. They make no sense to me.

I see a lot of Trump supporters blindly supporting anything he does. It reminds me of Milei and some of the things he is doing.