Economics

Unemployment Held Steady in January

Tuesday, 09 March 2010 07:06

Unemployment remained unchanged during the first month of the year. According to data released Monday by the National Statistics Institute (INE), 6.3% of the economically active population was in unemployment in January.
The first labor market survey in 2010 shows an occupancy level lower than in December last year, attributable in part to the elimination of zafral jobs character. At the same time, the number of people who held a job or seeking to enter the labor market fell, offsetting the decline in employment.
In fact, the employment rate, which measures the percentage of working-age population that has a post-working, fell during the first month of the year from 59.9% to 58.6%. The record is below the same month last year, when the occupancy rate reached 58.7%.
Meanwhile, the activity rate-percentage of people of working age who have a job or actively seek their inclusion in the labor market, fell from 63.9% in December to 62.6% in January. In the first month of 2009, this record stood at 63.7% for the whole country.

(www.observa.com.uy, March 9, 2010)

Sales Grew in 2009

Friday, 05 March 2010 09:24

Sales increased in almost all areas, according to the poll of the last half of 2009 of the Chamber of Commerce and Services of Uruguay. In the category of consumer goods, the higher was the sale of appliances.
Within these assets, are highlighted appliance sales in supermarkets and cooperatives (9.05%), bazaar items in the same shops (6.7%) and toiletries, cosmetics and perfumes (4.7%), according to comparisons with 2008.
According to the report, this increase is due to several factors: increased supply of articles with new technologies, particularly in appliances, sensitive lowering prices in both dollars and pesos for many items, promotions and proliferation of longer terms for loans, income growth, high employment levels and the perception that the international crisis did not affect the country as predicted.

(www.180.com.uy, 5 March 2010)

BCU: Strong Regulations for Stockbrokers

Thursday, 04 March 2010 08:31

The Central Bank of Uruguay imposed tight regulations on brokers, which puts in doubt the future of many actors and their own Montevideo Stock Exchange. Banking sources said that members of the institution, will meet next week to determine possible actions.
The new rules established by the Central Bank show that from next month, will record the telephone calls from their customers and keep all written correspondence as a way to keep track of all transactions undertaken or planned.

(www.espectador.com, 4 March 2010)

Lorenzo Promised to Continue Astori‘s Line

Wednesday, 03 March 2010 08:12

President Jose Mujica said on Tuesday that "there must be no worse instability than political”. The president made this account in the context of taxation in the position of Minister of Economy and Finance, Fernando Lorenzo, and other members of the economic team. Mujica said in his speech that when former President Tabaré Vázquez took office he found a government and at the end he left "the country with a plus".
The new economy minister said he was very "proud" to participate in the second government of the Frente Amplio, and also to "go home", alluding to its passage in the Macroeconomic Advisory portfolio, a position he held at the beginning of the Vazquez management. Lorenzo vows to pursue the same lines drawn by Astori and Alvaro Garcia. Secretary of State referred to the president's remarks on Monday in the act of taking office, especially the "challenge" posed to education and scientific research. For Lawrence, these are "good important mandates and the economy should be at your service.

(www.observa.com.uy, 3 March 2010)

Real Wages Grew

Monday, 01 March 2010 08:33

The average wage index rose 5.74% in January 2010 as a result of the specific adjustments, both public and private. According to the Statistical Institute, real wages, which considers the nominal income and inflation, that measures the purchasing power, rose 4.76% at the start of the year.

(www.espectador.com, 01 March 2010)

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