Uruguay’s unemployment rate fell to 8.1% in January 2025, down from 8.6% the previous year, but is higher than November’s low of 7.2%. The labor force participation rate remained at 64.6%, while the employment rate decreased from 59.8% to 59.4%.
In January 2025, Uruguay’s unemployment rate experienced a decrease, landing at 8.1%. This figure marks a decline from the 8.6% recorded during the same period in the previous year. Nevertheless, it remains higher than the notable low of 7.2% observed in November 2024, which had represented the lowest unemployment rate since December 2021.
The labor force participation rate in Uruguay held steady at 64.6%, indicating stability in the workforce engagement levels. However, the employment rate witnessed a slight decline, falling to 59.4% from 59.8% in the preceding month, suggesting some challenges within the employment sector despite the overall decline in the unemployment rate.
In summary, Uruguay’s unemployment rate decreased to 8.1% in January 2025, down from 8.6% a year earlier, yet it remains above the recently attained low of 7.2%. The labor force participation rate showed no change, while the employment rate faced a minor reduction. These trends point to a complex employment landscape in Uruguay as it navigates economic challenges.
Original Source: www.tradingview.com
