The national unemployment rate was 8.9% in the June–August 2024 quarter (JJA 2024), according to information from the National Employment Survey (ENE), which is produced by the National Statistics Institute (INE).

The national unemployment rate decreased 0.1 percentage points year on year as a result of the slower growth in the labour force (2.4%) than in employed persons (2.5%). The increase in the number of unemployed persons (1.4%) can be exclusively attributed to the rise in the redundant (2.3%).

Compared to the same period in the previous year, the participation rate increased 0.9 pp to stand at 61.8% and the employment rate increased 0.9 pp to stand at 56.3%. In the same period, the decrease in the population outside the labour force (-1.4%) was influenced by the falls in the routinely inactive (-1.3%) and future starters (-41.2%).

The unemployment rate for women increased 0.1 pp year on year to stand at 9.4%. The increase was due to the faster growth in the labour force (2.7%) than in employed women (2.5%). In the same period, the number of unemployed women increased 3.8% while the participation rate rose 0.9 pp to stand at 52.6% and the employment rate rose 0.8 pp to stand at 47.7%. The number of women outside the labour force fell 1.0%.

The unemployment rate for men (8.5%) decreased 0.3 pp year on year as a result of the slower growth in the labour force (2.3%) than in employed men (2.6%). In the same period, the decrease in the number of unemployed men (-0.6%) can exclusively be attributed to the fall in first-time job seekers (-9.7%). For men, the participation rate rose 0.9 pp to stand at 71.4% and the employment rate rose 1.0 pp to stand at 65.3%. The number of men outside the labour force decreased 2.3%.

Increase in employed persons 

The estimated increase in the number of employed persons (2.5%) was influenced by rises in men (2.6%) and women (2.5%).

By economic sector, the growth in the employed population was influenced by the rises in commerce (4.1%), education (3.8%), and public administration (3.6%). By occupational category, the growth was influenced by the rises in formal wage earners (3.6%) and own-account workers (1.2%). 

Labour informality

The informal employment rate rose 0.9 pp year on year to stand at 27.6%. The increase in the number of informally employed persons (5.9%) was due to the rises in men (5.6%) and women (6.1%). By economic sector, the increase can mainly be attributed to the rises in commerce (13.5%) and other service activities (11.5%). By occupational category, the increase was influenced by the rises in own-account workers (9.5%) and employers (51.8%).

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 8.7%, an increase of 0.2 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 1.1% year on year. In contrast, the average number of hours worked fell 1.5% to stand at 37.0 hours. Men worked an average of 39.3 hours, while women worked an average of 33.9 hours.

The combined rate of unemployment and the potential labour force decreased 0.3 pp to stand at 16.8%. This indicator stood at 14.8% for men and 19.3% for women. The gender gap was 4.5 pp.

Metropolitan region 

In the Metropolitan Region, the unemployment rate for the June–August 2024 quarter decreased 0.4 pp year on year to stand at 9.2%. In the same period, the estimated total number of employed persons increased 2.3%. By economic sector, the increase was influenced by the rises in commerce (4.5%), education (5.7%), and public administration (7.6%).

See:

ENE National Bulletin no. 311: June-August 2024

ENE Bulletin for Metropolitan Region no. 99: June-August 2024 (in Spanish)

ENE Statistical Note, no. 29: June-August 2024 (in Spanish)

National Employment Survey (ENE) Presentation of Results – 30 September 2024 (in Spanish)