Argentina's unemployment lowest in 20 years

Argentine President Nestor Kirchner said the country's unemployment rate had fallen to 8.3 per cent in April, according to provisional figures, its lowest level for 20 years.

Latin America's No. 3 economy recorded unemployment of 9.8 per cent in the first quarter of the year amid strong growth.

"I've seen the provisional unemployment index for April and it's the lowest level for 20 years, it fell to 8.3 per cent," Mr Kirchner said in a televised speech at a political rally in Buenos Aires.

Argentine unemployment has been falling steadily as the economy grows strongly following a 2001/02 crisis during which the jobless rate reached 21.5 per cent. It fell below 10 per cent for the first time in a decade at the end of last year.

Argentina reports unemployment quarterly, but Mr Kirchner said last year that unemployment for April 2006 was 10.8 per cent.