The unemployment rate for the 1st quarter of 2018 was 7.9%. This value is down 0.2 percentage points (p.p.) from the previous quarter and 2.2 p.p. from the same quarter of 2017.
The unemployed population, estimated at 410.1 thousand people, decreased by 2.8% (11.9 thousand fewer people) from the previous quarter, extending the quarterly decreases observed since the 2nd quarter of 2016. Comparing to the year-on-year value, there was a decrease of 21.7% (113.8 thousand fewer people), slightly smaller than the one observed in the previous quarter.
The employed population, estimated at 4,806.7 thousand people, recorded a practically null relative change (associated to a small increase of 1.8 thousand people) and a year-on-year growth of 3.2% (148.6 thousand more people).
The youth (15 to 24 years old) unemployment rate was 21.9%, the lowest value of the data series started in the 1st quarter of 2011.
The labour underutilisation rate was 15.2%. This figure is 0.3 p.p. lower than in the previous quarter and 3.0 p.p. lower than in the same quarter of 2017.
In these estimates, the population aged 15 and over was considered and the values are not seasonally adjusted.