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The unemployment rate stood at 6.7% and the labour underutilisation rate at 11.5%
Monthly Employment and Unemployment Estimates
The unemployment rate stood at 6.7% and the labour underutilisation rate at 11.5% - February 2024
02 April 2024

Summary

January 2024 (definitive estimates):

The active population (5,355.5 thousand people) increased from the previous month (1.1%), from three months before (1.0%) and from the same month of last year (1.8%).

The employed population (5,003.4 thousand) increase from the three periods under comparison: 1.0%; 1.1% and 2.3%, respectively.

The unemployed population (352.2 thousand) increased from December 2023 (1,6%), having remained practically unchanged compared to October and decreased from a year earlier (4.7%).

The unemployment rate, which stood at 6.6%, increased by 0.1 percentage points (pp) from the previous month, decreased by 0.1 pp from three months before and by 0.4 pp from a year earlier.

The inactive population (2,433.4 thousand) increased by 1.6% from December and by 1.9% and from October 2023 and by 0.2% from a year earlier.

The labour underutilisation rate was estimated at 11.6%, the same value as the previous month, but decreasing by 0.2 pp from three months before and by 0.6 pp from a year earlier.

February 2024 (provisional estimates):

The active population (5,359.6 thousand) increased from the three periods under comparison: 0.1%, 1.1% and 1.7%, respectively.

The employed population (5,000.2 thousand) decreased from the previous month (0.1%), having increased from three months before (1.0%) and from the same month of 2023 (1.9%).

The unemployed population (359.4 thousand) increased by 2.1% from December 2023 and by 3.2% from three months before, having decreased by 1.1% from a year earlier.

The unemployment rate remained at 6.7%, up 0.1 pp both from the previous month and from three months before, but down 0.2 pp from a year earlier.

The inactive population (2,434.9 thousand) increased from the month before (0.1%), from three months before (1.7%) and from a year earlier (0.8%).

The labour underutilisation rate stood at 11.5%, down from January 2024 (0.1 pp), from November 2023 (0.2 pp) and from February of the same year (0.6 pp).


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