Unemployment in Uruguay

Uruguay Unemployment | Economic News & Forecasts

Uruguay - Unemployment

Economic prospects remained bleak in Q3, after Q2’s record GDP contraction on the coronavirus hit. Industrial output shrank at a faster rate in August, while goods exports fell sharply in the quarter, likely owing to muted demand from key trading partners. Meanwhile, the jobless rate rose in August, hitting an over 14-year high, which likely hampered household spending in the quarter. Turning to Q4, due to a rise in new Covid-19 cases, the government announced at end-October that it will keep borders closed to tourism over the coming summer months, which could weigh on activity. The authorities also renewed restrictions in the city of Rivera where numbers are particularly high, suspending large events and limiting capacity in shops. In other news, on 8 October, Fitch Ratings affirmed the country’s BBB- rating with a negative outlook, citing strained public finances due to the health crisis.

Uruguay - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate7.5  7.9  7.9  8.4  8.9  

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Uruguay Unemployment Chart

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

Uruguay Facts

Value Change Date
Exchange Rate37.330.24 %Jan 01

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