According to the High Commissioner for Planning (HCP), the rate of unemployment increased by 4.2 points to 12.3% in the second quarter of 2020, while it stood at 8.1% during the same period a year earlier.
Employment and activity rates have drastically fallen in both rural and urban areas. In particular, the unemployment rate has risen from 3% to 7.2% and from 11.7% to 15.6% respectively, according to the HCP in an information note on the situation of the labor market in Q2-2020, pointing out that the last time the unemployment rate passed the 12% mark was in the second quarter of 2001.
The HCP points out that the last time the unemployment rate passed the 12% mark was in the second quarter of 2001.
In addition, the unemployment rate also rose significantly among men to 11.3%, women to 15.6% and young people aged 15-24 to 33.4%, adds the same source. Moreover, the HCP informs that the number of unemployed people increased by 496,000 people between the second quarter of 2019 and the second quarter of 2020, from 981,000 to 1,477,000, which corresponds to an increase of 50.6%. These increases, which are made up of an increase of 311,000 unemployed people in urban areas and 185,000 in rural areas, were recorded exclusively among those who had already worked.
As for the graduate unemployment rate, it increased by 3.7 points to 18.2%. This increase is more pronounced among holders of certificates in professional specialization (+11.7 points and a rate of 37%), diplomas and certificates of basic education (+4.6 points and a rate of 14.9%) and diplomas in professional qualification (+3.8 points and a rate of 20.3%).
In the period between the second quarter of 2019 and the second quarter of 2020, the average duration of unemployment declined from 38 months to 24 months (from 40 months to 27 months in urban areas and from 23 months to 15 months in rural areas), reports the HCP. It also added that the percentage of people who had been unemployed for less than 4 months rose from 15.8% to 29.7%, while that of the long-term unemployed (one year or more) declined from 70.4% to 50.6%.
Meanwhile, the percentage of unemployed persons due to dismissal or discontinuation of the establishment’s activity stood at 40.1% compared to 25.3% a year earlier. This figure reached a high of 76.5% among those who had been unemployed for less than four months.