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The unemployment rate stood at 6.7% and the labour underutilisation rate at 11.0%
Monthly Employment and Unemployment Estimates
The unemployment rate stood at 6.7% and the labour underutilisation rate at 11.0% - November 2024
06 January 2025

Summary

October 2024 (definitive estimates):

• The active population (5,468.3 thousand people) increased from the previous month (0.1%), from three months before (1.1%) and from a year earlier (1.4%).

• The employed population (5,105.5 thousand) increased from the three periods under comparison: 0.1%, 0.9% and 1.4%, respectively.

• The unemployed population (362.8 thousand) increased from September (1.2%) and from July 2024 (3.7%), as well as from October 2023 (0.8%).

• The unemployment rate stood at 6.6%, equal to September, up 0.1 percentage points (pp) from July and down 0.1 pp from October 2023.

• The inactive population (2,476.1 thousand) stood practically unchanged from the previous month, having decreased from three months before (1.7%) and from the same month of 2023 (0.2%).

• The labour underutilisation rate was estimated at 10.9%, down from the three periods under comparison: 0.1 pp, 0.3 pp and 0.7 pp.

November 2024 (provisional estimates):

• The active population (5,470.9 thousand) increased from October of 2024 (2.6 thousand, which corresponded to a nearly null relative change), from August 2024 (0.6%) and from November 2023 (1.4%).

• The employed population (5,107.0 thousand) increased from the previous month (1.5 thousand, which corresponded to a nearly null relative change), from three months before (0.3%) and from one year earlier (1.3%).

• The unemployed population (363.8 thousand) increased from the three periods under comparison: 0.3%, 5.0% and 3.1%, respectively.

• The unemployment rate stood at 6.7%, up from October (0.1 pp), up from August 2024 (0.3 pp) and up from November 2023 (0.2 pp).

• The inactive population (2,484.1 thousand) increased by 0.3% from the previous month and decreased by 0.4% from three months before and by 0.3% from the same month of 2023.

• The labour underutilisation rate stood at 11.0%, up from October (0.1 pp), up from August 2024 (0.2 pp) and down from November 2023 (0.6 pp).


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