* Uruguay’s national statistics institute (INE) has released new figures which show that the country’s unemployment rate reached 10.7% in June, up from 9.7% in May. However, the figures also show that the rate of employment also rose to 53.6% in June, up from 52.8% in May, while the number of economically inactive people fell by 45,000 people in June from the previous month’s estimates. Of those who are economically inactive but available to work, 27.7% are not seeking employment due to the ongoing coronavirus (Covid-19) pandemic.
Aldo Lema, a local economist at Vixion consultancy, tweeted that the INE’s latest figures suggest “
signs of recovery”, noting that in seasonally adjusted terms, 114,000 jobs were lost in March-April of which 56,000 were recovered in May-June.
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