Unemployment in Uruguay

Uruguay Unemployment | Economic News & Forecasts

Uruguay - Unemployment

Available data for the second half of the year has been downbeat and suggests that economic turmoil in neighboring Argentina has taken its toll on growth. On the heels of an otherwise solid first-half outturn, deteriorating external demand—from Argentina and Brazil, in particular—is expected to have hammered exports in the third quarter, compounding low agricultural output due to the drought-stricken harvest. In turn, household spending is likely to have landed on its back foot; unemployment spiked in the quarter and elevated inflation continued to weigh on consumers. Moreover, industrial metrics fared poorly through the quarter and hint that the second quarter’s rebound in fixed investment might have been a one-off. In October, Fitch Ratings revised the outlook on its investment-grade credit rating to negative, putting the government on notice over its rising public-sector debt. Analysts were quick to point out that next year’s budget will provide little remedy.

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

Exchange Rate32.800.24 %Jan 14

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