The unemployment rate in Argentina jumped to 9.6 percent in the second quarter of 2018 from 9.1 in the previous quarter and 8.7 percent a year earlier. It was the highest jobless rate since the first quarter of 2007. The number of unemployed rose by 56 thousand to 1, 239 million while employment went down by 107 thousand to 11.642 million. The underemployment rate jumped to 11.2 percent from 11.0 percent a year earlier and 9.8 percent in Q1. The jobless rate was higher for women (10.8 percent vs 9.5 percent in Q1 2017) than for men (8.7 percent vs 8.2 percent). Among the six regions considered, Gran Buenos Aires recorded the highest jobless rate at 11.4 percent, followed by Pampeana at 8.8 percent. Unemployment Rate in Argentina averaged 9.41 percent from 2002 until 2018, reaching an all time high of 20.80 percent in the fourth quarter of 2002 and a record low of 5.90 percent in the third quarter of 2015.
Unemployment Rate in Argentina is expected to be 9.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Argentina to stand at 9.80 in 12 months time. In the long-term, the Argentina Unemployment Rate is projected to trend around 9.70 percent in 2020, according to our econometric models.