FX.co ★ Uruguay Jobless Rate Rises Slightly in May

Uruguay’s unemployment rate inched up to 7.6% in May 2026 from 7.5% in April, indicating a broadly stable labor market. By region, unemployment was 7.7% in Montevideo and 7.6% in the rest of the country. By gender, the jobless rate was lower for men, at 6.8%, compared with 8.5% for women. Young people remained the most affected, with unemployment reaching 25.7% among those aged 14 to 24. For workers aged 25 to 29, the rate was 8.4%, and it declined steadily in older cohorts, falling to 3.7% for those aged 35 to 44 and 2.3% for people aged 65 and over. Among those employed, 8.8% were underemployed and 20.9% were not registered with social security in their main job. The labor force participation rate stood at 64.4%, while the employment rate was 59.5%.