LatinNews Daily - 12 August 2026

*Paraguay’s President Santiago Peña has stated that the rate of formal employment in Paraguay has reached 40% “for the first time” while unemployment is at its lowest recorded level. The comments were made during an interview with state television channel Paraguay TV where the president highlighted the positive effects of his governments’ actions since he took office in August 2023 and promised greater results for the people in the remaining two years of his term. Peña stated that, for the first time, 40% of jobs are registered in the social security system. He explained that “it’s a substantial improvement, because you realise that it’s quality work that is also generating pension contributions”. Regarding unemployment, he highlighted “the lowest unemployment rates in history” but did not give any figures, while equally reaffirming his campaign promise to create at least 500,000 new jobs. According to Paraguay’s national statistics institute (INE), unemployment stood at 4.1% in the second quarter of the year, down from 5.0% in the same quarter of 2025 and lower than the 5.8% registered during the same period in 2023, according to figures from the economy and finance ministry (MEF).

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