Weekly Report - 24 May 2007

ARGENTINA | Unemployment. The unemployment rate increased to 9.8% of the working population in the first quarter of the year from 8.8% in December 2006. However, the rate was down 1.6 of a point year-on-year. A quarter of the Argentine population was unemployed at the height of the economic crisis in 2002. President Néstor Kirchner pledged to lower that rate to a single digit by 2007. The unemployment rate, however, would be 10.5% if the national statistics agency, Indec, included Argentines who are unemployed but who receive grants from the government in its statistics. 

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