Asunción is the capital and the largest city in Paraguay. The city has an estimated population of 550,000 people while the wider metropolitan area extends to up to 2.4 million people. The unemployment in Paraguay recently went down to 7.2 percent in the second quarter of 2015. In the first quarter it was at 2015. The unemployment rate has averaged 7.7 percent between 201. And 2015. The highest recorded rate was in 2014 at 9.37 percent and the lowest rate was in 2011 at 6 percent. The main universities in the city are the Universidad Católica Nuestra Señora de la Asunción and the Universidad Nacional de Asunción. The former is a private university and the latter is a state run institute.
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