Uruguay’s unemployment rate fell to 8.1% in January 2025 from 8.6% last year, though it rebounded from November’s low of 7.2%. The labor participation rate is stable at 64.6%, but the employment rate declined to 59.4% from 59.8%.
As of January 2025, Uruguay’s unemployment rate has decreased to 8.1%, a slight improvement from the previous year’s figure of 8.6%. However, this marks a rise from the historically low rate of 7.2% recorded in November 2024, highlighting the fluctuations in employment trends within the country.
The labor force participation rate has remained steady at 64.6%, indicating that the proportion of the working-age population actively participating in the labor market has not changed. In contrast, the employment rate has dipped to 59.4% from 59.8% the previous month, suggesting a slight contraction in employment opportunities despite a better overall unemployment figure.
The current labor statistics reflect Uruguay’s efforts to address employment dynamics while facing broader economic challenges. Policymakers may need to consider strategies to invigorate job creation and sustain the positive trends in labor participation and employment rates moving forward.
The unemployment rate in Uruguay shows signs of minor recovery in January 2025, decreasing to 8.1% from the previous year. While the labor force participation remains unchanged, the decline in the employment rate indicates ongoing challenges in the job market that need to be addressed to maintain progress.
Original Source: www.tradingview.com
