Argentina’s unemployment rate rose to 6.4% in Q4 2024, marking an increase from the previous year and a decrease from Q3 2024. Joblessness is notably higher in Greater Buenos Aires, with women facing greater unemployment rates than men. The hospitality industry is declining, affected by currency appreciation, while the government seeks to stabilize the economy through an IMF loan amid ongoing inflation challenges.
Unemployment in Argentina has risen, reaching 6.4% in Q4 2024, a notable increase from 5.7% in Q4 2023. However, this figure is a decrease from 6.9% in Q3 2024, according to a report by the National Institute of Statistics and Census (Indec). The Greater Buenos Aires area has the highest joblessness rate at 7.1%, while Patagonia has the lowest at 4%. Women’s unemployment stands at 6.9%, compared to men’s 6.1%.
A majority of the unemployed, 72.5%, have been without work for less than a year, while 27.6% have been jobless for a longer duration. The overall labor market pressure, which includes the unemployed, underemployed, and job seekers, has risen to 29.4%, reflecting a 2-point increase year-on-year. Currently, approximately 1.47 million individuals in Argentina are unemployed, marking an increase of 180,000 from the previous year.
In February 2025, hotel occupancy rates in Argentina decreased by 0.2% year-on-year, totaling 1.97 million travelers. The local currency’s appreciation against the US dollar has made visiting less appealing for foreign tourists. While resident travel rose by 4.6%, non-resident tourist numbers fell by 14.7%. Overnight stays amounted to 5.6 million, a drop of 1.2% year-on-year.
Buenos Aires province accounted for 27.8% of overnight accommodations, followed by Patagonia at 22.6%. The average hotel stay lasted 2.8 nights, with parahotel bookings reaching 3.4 nights. Key destinations include Mar del Plata, San Carlos de Bariloche, and Villa Carlos Paz.
Despite President Javier Milei’s administration reducing inflation from 211% in 2023 to 117% in 2024, economic activity remains sluggish due to a lagging dollar. The Central Bank’s reserves have declined following its interventions to stabilize the currency. The government is pursuing an IMF loan to improve reserves and address emerging challenges.
Among Argentina’s 29.8 million urban residents, 14.5 million belong to the economically active population, of which 13.6 million are employed, leaving nearly a million actively seeking employment. Of the unemployed, 71.2% have completed high school, while 28.9% have attended college, regardless of graduation status.
The article highlights a recent increase in unemployment in Argentina, reaching 6.4% in late 2024. The job market reveals significant disparities, with women’s unemployment higher than men’s. The hospitality sector is struggling, reflecting changes in tourist demographics due to local currency fluctuations, while the government faces economic challenges despite inflation reduction efforts. A considerable portion of the unemployed have secondary education, indicating potential areas for targeted workforce development.
Original Source: en.mercopress.com
