The national unemployment rate was 8.3% for the March–May 2024 quarter (MAM 2024), according to information from the National Employment Survey (ENE), which is produced by the National Statistics Institute (INE).

The national unemployment rate decreased 0.2 percentage points (pp) year on year. The decrease can be attributed to the slower growth in the labour force (3.1%) than in employed persons (3.3%). The increase in the number of unemployed persons (0.5%) was influenced by the rise in first-time job seekers (18.0%).

Compared to the same period in the previous year, the participation rate increased 1.3 pp to stand at 62.2% and the employment rate increased 1.3 pp to stand at 57.0%. In the same period, the decrease in the population outside the labour force (-2.4%) was influenced by the fall in the routinely inactive (-3.2%) and future starters (-3.8%).

The unemployment rate for women (9.3%) increased 0.2 pp year on year. The increase was due to the faster growth in the labour force (3.9%) than in employed women (3.7%). In the same period, the number of unemployed women increased 5.9%. For women, the participation rate rose 1.5 pp to stand at 52.8% and the employment rate rose 1.3 pp to stand at 47.9%. The number of women outside the labour force fell 2.2%.

The unemployment rate for men (7.6%) decreased 0.5 pp year on year. The decrease was due to the slower growth in the labour force (2.4%) than in employed men (3.0%). In the same period, the decrease in the number of unemployed men (-4.1%) can exclusively be attributed to the fall in the redundant (-6.5%). For men, the participation rate rose 1.0 pp to stand at 72.0% and the employment rate rose 1.4 pp to stand at 66.6%. The number of men outside the labour force decreased 2.7%.

Increase in employed persons      

The twelve-month variation of 3.3% in the total number of employed persons was influenced by the rises in men (3.0%) and women (3.7%).

By economic sector, the expansion in the employed population was influenced by the rises in public administration (16.9%), transportation (5.3%), and health activities (4.2%). By occupational category, the expansion was influenced by the rises in formal wage earners (3.2%) and informal wage earners (7.1%).

Labour informality

The informal employment rate rose 0.8 pp year on year to stand at 28.2%. According to sex, the increase in the number of informally employed persons (6.4%) can be attributed to the rises in women (8.7%) and men (4.5%). By economic sector, the increase can be attributed to rises in commerce (12.2%) and public administration (37.6%).

Seasonality

The seasonally adjusted unemployment rate (which eliminates the effects of exogenous seasonal factors of a non-economic nature that influence its current behavior) stood at 8.2%, a decrease of 0.1 pp compared to the previous moving quarter.

Working hours and indicators of labour underutilization

The volume of work, as measured by the quantity of hours per week actually worked by employed persons, increased 2.0% year on year. In contrast, the average number of hours worked fell 1.4% to stand at 37.9 hours. Men worked an average of 40.0 hours, while women worked an average of 35.0 hours.

The combined rate of unemployment and the potential labour force decreased 0.3 pp to stand at 15.7%. This indicator stood at 13.3% for men and 18.8% for women. The gender gap was 5.5 pp.

Metropolitan region  

In the Metropolitan Region, the unemployment rate for the March–May 2024 quarter decreased 0.6 pp year on year to stand at 8.6% and the total number of employed persons increased an estimated 3.4%. By economic sector, the increase was influenced by the rises in public administration (23.4%), commerce (3.2%), and education (6.6%).

A note to users

As of July 2024, ENE will no longer publish databases in .sav format. A guide for transferring the databases in .dta to .sav format will be incorporated into the survey codebook.

As of July 2024, ENE information in the INE.STAT platform will no longer be updated. This information will however be available in its entirety in the Labour Market Information System (SIMEL), which will be updated every month with each publication.

See:

ENE National Bulletin no. 308: March – May 2024
ENE Bulletin for Metropolitan Region no. 96 March – May 2024 (Spanish only)
ENE Statistical Note, no. 26: March – May 2024 (Spanish only)
National Employment Survey (ENE) Presentation of Results – 28 June 2024 (Spanish only)