The unemployment rate in the City of Buenos Aires reached 9.4 percent of the economically active population in the first quarter of the year, according to figures released by the City’s stats agency. The number represents a 1.4 percent increase compared to the last quarter of 2016, though for the sake of context most economists will remind you that the unemployment rate usually increases slightly during summer. While comparing numbers from one quarter to the next might not provide a huge amount of insight, the fact that quarter one of 2017 shows a 0.8 percent increase in unemployment when compared to the same period in 2016 is concerning.
Reports from the study confirmed that, in line with a troubling trend, women were significantly more affected by unemployment than men in Buenos Aires, with rates of 11.6 and 7.4 percent, respectively.
This difference was not measured controlling for potential external factors such as maternity, as the study looked at the city’s economically active population as a whole. It’s also necessary to highlight that the number is influenced by the total amount of people looking for work in the territory, which went up from 54.3 in the first quarter of 2016 to 55.7 percent in the current one’s.
Moreover, the study also illustrated the historic socioeconomic differences between the city’s different areas. Only 6.5 percent of the population in the more affluent northern area is struggling to get a job, while the number is as high as 14.3 percent in the more disadvantaged south. The central region’s rate, on its end, was of 8.5 percent.