SYNTHESIS INE@COVID-19, 8 Oct -2020

October . 08 . 2020 SYNTH SIS IN @ COVID-19 www.ine.pt page 8/14 Communication Unit | tel: +351 21 842 61 10 | sci@ine.pt Employment Rate (seasonally adjusted data) Labour underutilisation rate (seasonally adjusted data) (p) Provisional estimate (p) Provisional estimate (p) In August 2020, compared to the previous month: • The unemployed population increased by 3.3% (13.3 thousand people); • The employed population increased by 0.5% (21.5 thousand); • The active population increased by 0.7% (34.6 thousand); • The inactive population decreased by 1.3% (35.6 thousand); • The inactivity rate stood at 34.0% (-0.5 p.p vis-à-vis the previous month; +0.8 p.p. compared to August 2019). The estimated employment rate in August 2020 stood at 60.6% (+0.3 p.p. than the previous month and -2.2 p.p. in year-on-year terms). Labour underutilization The labour underutilization is an indicator that aggregates: • The unemployed population; • The underemployment of part-time workers; • The inactive looking for employment but not available for work; • The inactive available, but not seeking employment. More information available at: Monthly employment and unemployment estimates – August 2020 (30 September 2020) 15.3% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% Aug-11 Feb-12 Aug-12 Feb-13 Aug-13 Feb-14 Aug-14 Feb-15 Aug-15 Feb-16 Aug-16 Feb-17 Aug-17 Feb-18 Aug-18 Feb-19 Aug-19 Feb-20 Aug-20 60.6% 48.0% 50.0% 52.0% 54.0% 56.0% 58.0% 60.0% 62.0% 64.0% Aug-11 Aug-12 Aug-13 Aug-14 Aug-15 Aug-16 Aug-17 Aug-18 Aug-19 Aug-20 This indicator allow its data users a broader measure of the labour underutilisation than the more restrictive measure given by the official unemployment rate (ILO concept). In August 2020 (provisional estimate): • The underutilization of labour covered 823.5 thousand people (-1.5% (12.8 thousand) compared to the previous month and +21.5% (145.7 thousand) in year-on-year terms); • The labour underutilization rate was 15.3% (-0.3 p.p. than in the previous month; +2.7 p.p. in year-on-year terms). (p)