Argentina Unemployment Shows Clock Is Ticking on Macri’s Reforms
- Jobless rate is 9.3 percent, above the 8.3 percent forecast
- Macri races to revive economy to halt drop in living standards
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President Mauricio Macri’s deregulation of the Argentine economy has cost more jobs than economists had expected, according to the first labor market report released since the new government came to office in December.
The unemployment rate was 9.3 percent, the statistics agency said in a statement handed to reporters in Buenos Aires Tuesday, compared with the median estimate of 8.3 percent in a Bloomberg survey of five economists. The government has dismissed labor market reports by the previous administration of Cristina Fernandez de Kirchner as unreliable.