Uruguay undergoes economic downturn and higher unemployment

Montevideo, Sep 20 (Prensa Latina) Uruguay is undergoing a 10.6 percent drop in its economy today, according to a report published by the Central Bank (BCU).

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Por: PRENSA LATINA

20 September , 2020 | 11:17

The data comes from the chapter National Accounts, and corresponds to the second quarter of this year, immediately after the health emergency ordered on March 13 due to the Covid-19 pandemic.

At the end of the first three months of 2020, there was a nine percent drop in the Gross Domestic Product, which became more acute as the mobility of people and the normal functioning of productive and service establishments were affected.

The BCU report highlights a greater drop in the economy in the areas of commerce, repairs, restaurants and hotels.

On the other hand, unemployment stood at 10.6 percent of the population, according to the National Institute of Statistics, with a greater impact on women and the population of the interior.

In Montevideo it was 9.6 and for the rest of the country 11.3, and among women the rate was 13.7 and among men 8 percent.

The cited source established that this is the highest unemployment rate in the last 14 years.

mh/jha/hr

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