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The unemployment rate stood at 6.3% and the labour underutilisation rate at 11.1%
Monthly Employment and Unemployment Estimates
The unemployment rate stood at 6.3% and the labour underutilisation rate at 11.1% - April 2024
29 May 2024

Summary

March 2024 (definitive estimates):

The active population (5,367.0 thousand people) increased from the previous month (0.2%), from three months before (1.3%) and from the same month of 2023 (1.7%).

The employed population (5,022.3 thousand) increased from February 2024 (0.4%), from December 2023 (1.4%) and from March 2023 (2.1%).

The unemployed population (344.7 thousand) decreased from the three periods under comparison: 2.1%, 0.7% and 4.4%, respectively.

The unemployment rate, which stood at 6.4%, decreased by 0.2 percentage points (pp) from the previous month, by 0.1 pp from three months before and by 0.4 pp from a year earlier.

The inactive population (2,432.2 thousand) decreased from the previous month (0.4%), but it has increased from three months before (1.5%) and from the same month of 2023 (0.9%).

The labour underutilisation rate was estimated at 11.2%, down from the three periods under comparison: 0.2 pp, 0.3 pp and 0.8 pp, respectively.

April 2024 (provisional estimates):

The active population (5,342.1 thousand) decreased from March (0.5%) and January 2024 (0.2%), having increased from April 2023 (1.2%).

The employed population (5,004.7 thousand) decreased from the previous month (0.4%) and increased from three months before (1.9 thousand people, which corresponds to a nearly null relative change) and from a year earlier (1.5%).

The unemployed population (337.4 thousand) decreased from the three periods under comparison: 2.1%, 3.5% and 2.8%, respectively.

The unemployment rate stood at 6.3%, down from the previous month (0.1 pp), from three months before (0.2 pp) and from a year earlier (0.3 pp).

The inactive population (2,460.9 thousand) increased from the three periods under comparison: 1.2%, 1.0% and 2.2%, respectively.

The labour underutilisation rate stood at 11.1%, down from March 2024 (0.1 pp), down from January of the same year (0.4 pp) and down from April 2023 (0.9 pp).


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