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4h ago

Argentina Unemployment Holds at 7.6% as Q2 GDP Slips and Demand Cools

A leading index now puts the recession risk near 98%, highlighting a sharp contrast with the government's 2026 growth forecast.

En el segundo trimestre del año hubo mayor presión sobre el mercado de trabajo
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La actividad abandonó el rebote en V y cayó
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Overview

  • INDEC reported a 7.6% jobless rate in the second quarter, about 1.7 million people, with an employment rate of 44.5% and labor force participation at 48.1%.
  • Labor precariousness worsened as informality reached 43.2% of the employed, including 37.7% of salaried workers without pension contributions.
  • Seasonally adjusted GDP fell 0.1% quarter over quarter, with household consumption down 1.1%, investment down 0.5%, exports down 2.2%, and public consumption up 1.1%.
  • Output rose 6.3% year over year due to a low base in 2024, which masks the current weakening in activity.
  • Regional gaps were marked, with unemployment at 10.3% in Gran Resistencia, 9.8% in the Buenos Aires conurbano, and 8.9% in Gran Córdoba, according to INDEC.