Unemployment is not useful to predict the recovery

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Unemployment is not useful to predict the recovery

Fourth week
March 2017

Last week, INDEC published the labor market statistics for the last quarter of 2016, accounting for a fall in the unemployment rate, which went from 8.5% in the third quarter down to 7.6%. Although this figure looks low compared to previous quarters and it is encouraging as it is the second consecutive fall, it is yet too soon to jump to the conclusion that the labor market is gaining strength. We should not look for green shoots here.