SYNTHESIS INE@COVID-19, 5 Feb-2021

February . 05 . 2021 SYNTH SIS IN @ COVID-19 www.ine.pt page 11/20 Communication Unit | tel: +351 21 842 61 10 | sci@ine.pt Labour underutilization rate (seasonally adjusted data) (p) Provisional estimate (p) In December 2020, compared to the previous month (provisional estimates): • The unemployed population decreased by 10.2% (37.8 thousand people); • The employed population decreased by 0.2% (10.3 thousand); • The active population decreased by 0.9% (48.1 thousand); • The inactive population increased by 1.9% (50.2 thousand). In November 2020, the unemployment rate stood at 7.1% (-0.4 p.p. compared with the previous month and +0.4 p.p. compared with November 2019). In November 2020, compared to the previous month: • The employed population (4,803.7 thousand people) increased by 0.4% (18,600); • The unemployed population (387.0 thousand) decreased by 4.9% (20.1 thousand); • The active population (5,172.6 thousand) remained practically unchanged from October; • The inactive population (2,615.7 thousand) increased by 0.1% (3.4 thousand). The almost unchanged active population resulted from the increase in the employed population (18.6 thousand) being similar to the decrease in the unemployed population (18.1 thousand). Labour underutilization The labour underutilization indicator aggregates: • The unemployed population; • The underemployment of part-time workers; • The inactive looking for work, but not available for work; • The inactive available but not looking for work. This indicator provides a more comprehensive measure of labour underutilization than the narrowest measure corresponding to the official unemployment rate, which follows the ILO definition. In December 2020 (provisional estimate): • The labour underutilization comprised 717.7 thousand people (-5.1% (38.2 thousand) than in the previous month and +6.2% (41.7 thousand) than in December 2019); • The labour underutilization rate was 13.4% (-0.6 p.p. as in the previous month and +0.8 p.p. in December 2019). 13.4% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% Dec-11 Jun-12 Dec-12 Jun-13 Dec-13 Jun-14 Dec-14 Jun-15 Dec-15 Jun-16 Dec-16 Jun-17 Dec-17 Jun-18 Dec-18 Jun-19 Dec-19 Jun-20 Dec-20 More information available at: Monthly employment and unemployment estimates – December 2020 (29 January 2021)