Expat Community > Uruguay

Morell
Joined 2012
Posts: 1233

Unemployment

8 years ago

Google translation about employment here.

In the first 10 months of this year 30,000 jobs were lost compared to the same period of 2014 and the level of employment reached its lowest since the year ending December 2010.
Analysts polled by El País believe it is not a temporary situation, but instead could intensify in the future.
Munyo Ignacio, director of the Center for Economics and Business Society Institute of Business Studies of Montevideo (EIMS) stated it is "not surprising" because the unemployment data in key sectors in the demand for labor, such as construction and manufacturing are "stagnant and declining".
Labor consultants and major business chambers agree that employment figures will continue their downward trend in 2016 and forecast that unemployment will be located in the vicinity of 10%. Consulted by El Pais, several labor market analysts argued that there is a deterioration in labor demand and warned that in the future the most affected sectors will be young people and those with lower skills and education.

"We expect a sharp deterioration in the labor market in 2016," said Florence Carriquiry, manager of Economic Deloitte Consulting. He said that job creation "will continue on a downward trend" and predicted that the unemployment rate will stand at 9.5% or more.

Reasons given include low commodity prices, the rise of the US dollar making imports expensive here, protectionism in Argentina and to a smaller extent in Brazil, and reduced demand for Uruguayan products.

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