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The unemployment rate stood at 6.6% and the labour underutilisation rate at 10.8%
Monthly Employment and Unemployment Estimates
The unemployment rate stood at 6.6% and the labour underutilisation rate at 10.8% - October 2024
29 November 2024

Summary

September 2024 (definitive estimates):

The active population (5,461.0 thousand people) increased from the previous month (0.4%), from three months before (1.1%) and from a year earlier (1.5%).

The employed population (5,102.8 thousand) increased from the three periods under comparison: 0.2%, 1.0% and 1.5%, respectively.

The unemployed population (358.2 thousand) increased from August (3.4%) and from June 2024 (2.7%), as well as from September 2023 (0.6%).

The unemployment rate stood at 6.6%, up 0.2 percentage points from August, up 0.1 pp from June 2024 and equal to September 2023.

The inactive population (2,475.7 thousand) decreased from the previous month (0.7%), from three months before (1.6%) and from the same month of 2023 (0.4%).

The labour underutilisation rate was estimated at 10.9%, up from August 2024 (0.1 pp), down from June of the same year (0.2 pp) and down from September 2023 (0.7 pp).

October 2024 (provisional estimates):

The active population (5,463.6 thousand) increased from September of 2024 (2.6 thousand, which corresponded to a nearly null relative change), from July 2024 (1.0%) and from October 2023 (1.3%).

The employed population (5,105.7 thousand) increased from the three periods under comparison: 0.1%, 0.9% and 1.4%, respectively.

The unemployed population (357.9 thousand) stood practically unchanged from the month before, having increased from three months before (2.4%) and decreased from a year earlier (0.5%).

The unemployment rate stood at 6.6%, the same value as in September, up from July 2024 (0.1 pp) and down from October 2023 (0.1 pp).

The inactive population (2,480.7 thousand) increased 0.2% from the previous month, decreased 1.5% from three months before and remained practically unchanged from the same month of 2023.

The labour underutilisation rate stood at 10.8%, down from the three periods under comparison: 0.1%, 0.3% and 0.8%, respectively.


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