ARGENTINA: The Week at a Glance

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The Fragility of the Labor Market and Its Social Consequences Unemployment data showed the fragility of Argentina's social scheme very clearly. Unemployment climbed to 13.1% a lower figure than expected by the market. But this cannot be considered good news. Instead of looking at unemployment, we must consider the employment rate. And there we can find devastating figures: only 33.4% of the population worked in the second quarter of the year when only a year ago that figure was 42.6%. Unemployment did not burst mainly for two reasons: Firstly, labor participation also slumped from 47.7% to
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