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The unemployment rate stood at 6.6% and the labour underutilisation rate at 11.6%
Monthly Employment and Unemployment Estimates
The unemployment rate stood at 6.6% and the labour underutilisation rate at 11.6% - November 2023
08 January 2024

Summary

October 2023 (definitive estimates):

The active population (5,298.0 thousand people) increased from September 2023 (0.2%) and from October 2022 (2.0%), having remained practically unchanged from July 2023.

The employed population (4,945.8 thousand) increased from the previous month (0.1%) and from the same month of 2022 (1.4%) and decreased from three months before (0.3%).

The unemployed population (352.3 thousand) increased from the three periods under comparison: 1.2%, 4.9% and 10.9%, respectively the previous month, three months before and a year earlier.

The unemployment rate, which stood at 6.6%, remained unchanged from the previous month and increased by 0.3 percentage points (pp) from three months before and by 0.5 pp from a year earlier.

The inactive population (2,393.5 thousand) decreased from September 2023 (0.4%) and from October 2022 (2.8%), having increased by 1.2 thousand people compared to July 2023 (which corresponded to a nearly null relative change).

The labour underutilisation rate was estimated at 11.8%, up from the three periods under comparison (0.1 pp, 0.3 pp and 0.4 pp, respectively).

November 2023 (provisional estimates):

The active population (5,303.7 thousand) increased from October and from August 2023 (by 0.1% in both) and from November 2022 (1.9%).

The employed population (4,955.2 thousand) has increased from the previous month (0.2%) and from a year earlier (1.8%), having decreased from three months before (0.2%).

The unemployed population (348.5 thousand) decreased by 1.1% from October and increased by 4.0% and by 3.4% from August 2023 and November 2022, respectively.

The unemployment rate remained at 6.6% for the third month running, having registered an increase from three months before (0.3 pp) and from a year earlier (0.1 pp).

The inactive population (2,390.4 thousand) decreased by 0.1% from the previous month, remained practically unchanged from three months before and decreased by 2.6% from one year earlier.

The labour underutilisation rate stood at 11.6%, the same value as in August 2023, down 0.2 pp from both October 2023 and November 2022.


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