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The unemployment rate stood at 6.5% and the labour underutilisation rate at 11.1%
Monthly Employment and Unemployment Estimates
The unemployment rate stood at 6.5% and the labour underutilisation rate at 11.1% - May 2024
01 July 2024

Summary

April 2024 (definitive estimates):

The active population (5,359.5 thousand people) decreased from the previous month (0.2%) and increased from three months before (0.1%) and from a year earlier (1.6%).

The employed population (5,016.9 thousand) decreased from March 2024 (0.1%) and increased from January 2024 (0.3%) and from April 2023 (1.8%).

The unemployed population (342.6 thousand) decreased from the three periods under comparison: 1.1%, 2.7% and 1.3%, respectively.

The unemployment rate stood at 6.4%, down 0.1 percentage points (pp) from the previous month, down 0.2 pp from three months before and down 0.2 pp from a year earlier.

The inactive population (2,443.5 thousand) increased from March (0.6%) and January 2024 (0.4%), as well as from April 2023 (1.5%).

The labour underutilisation rate was estimated at 11.1%, down from the three periods under comparison: 0.1 pp, 0.4 pp and 0.9 pp, respectively.

May 2024 (provisional estimates):

The active population (5,367.6 thousand) increased from April (0.1%) and February 2024 (0.2%), as well as from May 2023 (1.5%).

The employed population (5,016.6 thousand) remained practically unchanged from the previous month, having increased from three months before (0.3%) and from a year earlier (1.3%).

The unemployed population (351.0 thousand) decreased from February 2024 (0.5%), but increased from April of that year (2.4%) and from May 2023 (3.9%).

The unemployment rate stood at 6.5%, up 0.1 pp both from April 2024 and May 2023 and down 0.1 pp from February 2024.

The inactive population (2,443.4 thousand) remained practically unchanged from the previous month and increased from three months before (0.1%) and from a year earlier (1.9%).

The labour underutilisation rate stood at 11.1%, the same value as in April 2024, but down from February of that year (0.3 pp) and down from May 2023 (0.6 pp).


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