SYNTHESIS INE@COVID-19, 22 mar-2021

March . 22 . 2021 SYNTH SIS IN @ COVID-19 www.ine.pt page 8/11 Communication Unit | tel: +351 21 842 61 10 | sci@ine.pt • The labour underutilisation was 14.2%; • The inactivity rate stood at 35.2% (+0.8 p.p. compared with the previous month and +2.1 p.p. vis-à-vis January 2020). More information available at: Monthly employment and unemployment estimates – January 2021 (03 March 2021) Labour underutilisation rate (seasonally adjusted data) In December 2020, compared to the previous month (revised data): • The unemployed population decreased by 5.9% (21.9 thousand people); • The employed population decreased by 0.8% (37.5 thousand); • The active population decreased by 1.1% (59.4 thousand); • The inactive population increased by 2.4% (61.5 thousand). In December 2020, the unemployment rate stood at 6.8% (-0.3 p.p. compared with the previous month and +0.1 p.p. vis-à-vis December 2019); In December 2020, compared to the previous month: • The employed population (4,766.2 thousand people) decreased by 0.8% (37.5 thousand); • The unemployed population (347.0 thousand) decreased by 5.9% (21.9 thousand); • The active population (5,113.2 thousand) decreased by 1.1% (59.4 thousand); • The inactive population (2,677.2 thousand) increased by 2.4% (61.5 thousand). The decrease in the active population resulted from the decrease in the employed population (37.5 thousand) and the unemployed population (21.9 thousand). Labour underutilisation Labour underutilisation aggregates: • The unemployed population; • The underemployment of part-time workers; • The inactive looking for a job but not available for work; • The inactive available but not seeking a job. This indicator provides a more comprehensive measure of labour underutilisation than the narrower measure corresponding to the official unemployment rate, which follows the ILO definition. In January 2021 (provisional estimate): • Labour underutilisation comprised 748.8 thousand people (+1.9% (14.2 thousand) than in the previous month and +11.8% (79.2 thousand) compared with January 2020); • The labour underutilisation rate was 14.2% (+0.5 p.p. than in the previous month and +1.7 p.p. vis-à-vis January 2020). (p) (p) Provisional estimate 14.2% 0.0% 5.0% 10.0% 15.0% 20.0% 25.0% 30.0% Jan-12 Jul-12 Jan-13 Jul-13 Jan-14 Jul-14 Jan-15 Jul-15 Jan-16 Jul-16 Jan-17 Jul-17 Jan-18 Jul-18 Jan-19 Jul-19 Jan-20 Jul-20 Jan-21 (p) Provisional estimate (p) 60.2% 48.0% 50.0% 52.0% 54.0% 56.0% 58.0% 60.0% 62.0% 64.0% Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 Employment Rate (seasonally adjusted data) 7.2% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 12.0% 14.0% 16.0% 18.0% 20.0% Jan-12 Jan-13 Jan-14 Jan-15 Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21 (p) (p) Provisional estimate Unemployment Rate (seasonally adjusted data)