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HomeEconomyUnemployment fell to...

Unemployment fell to 6.1% in the second quarter and stabilized year-on-year.

The unemployment rate in the second quarter was 6.1%, 0.7 percentage points lower than in the previous quarter and in line with the same quarter in 2023, the National Statistics Institute (INE) reported on Tuesday.

According to INE, between April and June, the unemployed population, estimated at 332,000 people, decreased by 10.2% (37,600) compared to the previous quarter and increased by 0.8% (2,700) compared to the same period last year.

The labor underutilization rate is estimated at 10.6%, representing a decrease of 1.1 percentage points compared to the previous quarter and a decrease of 0.8 percentage points compared to the same quarter last year.

The increase in the female population (3,900; 2.3%) contributed mainly to the annual increase in the unemployed population; people aged 16 to 24 (12,800; 19.7%); with higher education (6,600; 10.2%); both looking for a first job (1,300; 2.9%) and a new job (1,300; 0.5%); and unemployed for less than 12 months (9,300; 4.8%).

In the second quarter, 39.2% of the unemployed population had been in that state for 12 months or more (long-term unemployment), which is 6.1 percentage points higher than in the previous quarter and 2.3 points lower than in the previous quarter.

The inactive population aged 16 years and over was 3,755,600, up 0.6% (21,600) from the previous quarter and up 1.4% (51,000) from the same period last year.

In the second quarter, 5,099,900 people were employed, up 0.8% (40,500) from the previous quarter and up 1.0% (48,500) from the same three months of 2023, and “the highest value in the series began in 2011.”

The main contribution to the dynamics compared to the previous year was made by the growth of the following groups: men (26,600 thousand; 1.0%); people aged 25 to 34 (33.4 thousand; 3.5%); with higher education (98.9 thousand; 6.0%); service sector workers (79,800; 2.2%), namely in all areas of public administration and defense, as well as compulsory social security and education), the growth of which (55.30; 7.6%) amounted to 69.3% of the change in the sector; hired workers (49.1 thousand; 1.1%), with permanent contracts (120.1 thousand; 3.4%); and full-time (38,300; 0.8%).

According to INE, the share of the population engaged in remote work was 20.2% (1,031,900 people), 0.2 percentage points more than in the first quarter of the year.

Author: Lusa
Source: CM Jornal

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