Unemployment in Uruguay

Uruguay Unemployment | Economic News & Forecasts

Uruguay - Unemployment

The economy contracted for the first time in nearly four years in the first quarter, largely due to the poor performance of the retail, manufacturing and tourism sectors. Private consumption declined again, undermined by rising unemployment and a weaker currency, while fixed investment also slumped, cementing the downturn in domestic demand. The external sector was also held down by weak demand from Argentina and Brazil, the country’s main trading partners. In other news, while the EU-Mercosur trade agreement faces uncertain prospects for ratification, due to reticence in some EU countries, Uruguay signed new protocols with Brazil to facilitate investment within the trade bloc. Lastly, on 23 July, Finnish firm UPM announced a USD 3 billion investment to build a pulp paper plant in Uruguay by 2022, which would generate an estimated 4,000 jobs.

Uruguay - Unemployment Data

2013  2014  2015  2016  2017  
Unemployment Rate6.5  6.6  7.5  7.9  7.9  

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Uruguay Unemployment Chart


Uruguay Unemployment
Note: Unemployment in % of active population.
Source: National Statistical Institute (INE).

Uruguay Facts

ValueChangeDate
Exchange Rate34.330.24 %Jul 31

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