Unemployment In Bolivia: Understanding The Country's Jobless Rates

Bolivia's unemployment rate has fluctuated over the years, with the rate decreasing to 4.06% in 2024, down from 7.9% in 2020. The unemployment rate in Bolivia refers to the percentage of the active workforce that is not currently working but is actively seeking employment. It is important to note that this does not include the economically inactive population, such as those under 15 years of age or retired persons.

Unemployment rate in 2024

As of June 2024, Bolivia's unemployment rate is 4.06%, down from 3.55% in 2023. This is lower than the long-term average of 6.31%.

Bolivia's unemployment rate has been fluctuating over the years. In 2022, it was 3.55%, a significant decline from 5.09% in 2021 and 7.9% in 2020. The rate had increased by 4.22% in 2020 compared to 2019, when it was at 3.68%.

While the unemployment rate in Bolivia decreased by 0.5 percentage points from 2022 to 2023, the previous two years recorded a significantly higher unemployment rate than the preceding years.

Looking ahead to 2024, it is challenging to predict the exact unemployment rate for Bolivia. However, considering the recent downward trend, it is reasonable to anticipate a continued decrease or stabilization in the unemployment rate. Several factors will influence the unemployment rate, including economic growth, labour market conditions, and government policies.

To make an informed prediction about the unemployment rate in 2024, it is essential to consider the overall economic health and stability of Bolivia. If the economy continues to grow and create jobs, the unemployment rate is likely to remain low or further decrease. Additionally, government initiatives and policies aimed at promoting employment and supporting the labour market can positively impact the unemployment rate.

Unemployment rate in 2023

The unemployment rate in Bolivia in 2023 was 2.72%, the lowest it had been since September of that year. This figure refers to the share of the workforce that is not working but is actively looking for work. It does not include the economically inactive population, such as those under 15 years of age, the long-term unemployed, or retired persons.

Bolivia's unemployment rate has fluctuated over the years. In 2024, it increased to 3.03% in March, up from 2.83% in December 2023. The data is reported by the National Statistics Institute. The unemployment rate in Bolivia decreased by 0.5 percentage points (-14.08%) from 2022 to 2023. However, the previous two years recorded a significantly higher unemployment rate than the preceding years.

In 2022, Bolivia's unemployment rate was 3.55%, a 1.54% decline from 2021. The rate in 2021 was 5.09%, a 2.81% decline from 2020. Bolivia's unemployment rate in 2020 was 7.90%, a notable increase of 4.22% from the previous year. The rate in 2019 was 3.68%, a slight increase of 0.16% from 2018.

Looking ahead, it is forecast that the unemployment rate in Bolivia will continuously increase between 2024 and 2029 by a total of 0.2 percentage points. The rate is estimated to reach 5.2% in 2029.

Unemployment rate in 2022

The unemployment rate in Bolivia for 2022 was 3.55%, a 1.54% decline from 2021. This figure represents a notable decrease from the previous year's rate and indicates a positive direction for the country's economy.

Unemployment refers to the share of the labour force that is without work but actively seeking employment. It is an essential economic indicator, as it reflects the health and stability of a country's job market. The unemployment rate in Bolivia has fluctuated over the years, with the 2022 rate showing a significant drop compared to the rates in 2020 and 2021.

The 2020 unemployment rate in Bolivia was 7.90%, a sharp increase from the 2019 rate of 3.68%. The rate then decreased substantially in 2021 to 5.09%, and this downward trend continued into 2022, resulting in the low rate of 3.55%. This decline in unemployment suggests that more people found employment or chose to actively seek work during this period.

While the unemployment rate in Bolivia for 2022 is a positive sign, it is important to monitor the trend over time. The rate is forecast to increase between 2024 and 2029, with an estimated unemployment rate of 5.2% by 2029. This projected increase highlights the dynamic nature of labour markets and the ongoing challenges in maintaining low unemployment rates.

Unemployment rate in 2020

The unemployment rate in Bolivia in 2020 was 7.9%, according to figures from the World Bank. This represented a significant increase of 4.22% on the previous year, 2019, when the unemployment rate was recorded at 3.68%. The rate continued to increase in 2021, reaching 5.09%, before dropping sharply in 2022 to 3.55%.

Unemployment refers to the share of the labour force that is without work but is actively seeking employment. It does not include those who are not actively looking for work, such as the long-term unemployed, those under the age of 15, or retired persons.

The unemployment rate in Bolivia has fluctuated over the years, with the long-term average rate sitting at 6.31%. The rate has generally remained below 10% since 2004, with the exception of a sharp increase in 2016, when the rate reached 12.3%.

The country experienced a significant increase in unemployment in 2020, with the rate rising to 7.9%. This could be attributed to various factors, including the global economic downturn caused by the COVID-19 pandemic, which negatively impacted many industries and businesses in Bolivia. However, the rate began to decline again in subsequent years, suggesting a recovery in the country's job market.

Youth unemployment rate

Youth unemployment in Bolivia refers to the share of 15- to 24-year-olds who are part of the labour force but are without work. In 2023, the youth unemployment rate in Bolivia was 5.264%. This is a notable decrease from 2020, when the rate was 15.38%. The rate has been steadily declining since, with the figure for 2021 being 8.45% and 6.27% in 2022.

The youth unemployment rate in Bolivia is measured as a percentage of the total labour force aged 15-24. This means that the rate takes into account young people who are actively seeking employment but are currently without work.

The overall unemployment rate in Bolivia, which is not limited to youth unemployment, was 3.55% in 2022. This figure represents a decline from 2021 (5.09%) and 2020 (7.9%).

The youth unemployment rate is an important indicator of the health of a country's economy and labour market. It can provide insights into the opportunities and challenges faced by young people transitioning from education to employment. Various factors can influence youth unemployment rates, such as economic conditions, labour market policies, and the availability of education and training opportunities.

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