The national unemployment rate was 8.3% for the April–June 2024 quarter (AMJ 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 was due to the slower growth in the labour force (3.0%) than in employed persons (3.2%). In the same period, the increase in unemployed persons (0.8%) was influenced by the rises in the redundant (0.9%) and first-time job seekers (0.1%).

Compared to the same period in the previous year, the participation rate increased 1.2 pp to stand at 62.1% and the employment rate increased 1.2 pp to stand at 56.9%. The fall in the population outside the labour force (-2.2%) was influenced by the decreases in the routinely inactive (-2.1%) and inactive persons who are potentially active (-1.9%).

The unemployment rate for women (9.0%) increased 0.1 pp year on year as a result of the faster growth in the labour force (3.3%) than in employed persons (3.3%)¹. In the same period, the number of unemployed women increased 3.9%; the participation rate rose 1.3 pp to stand at 52.8%; and the employment rate rose 1.1 pp to stand at 48.0%. The number of women outside the labour force fell 1.7%.

The unemployment rate for men (7.9%) decreased 0.3 pp year on year as a result of the slower growth in the labour force (2.7%) than in employed men (3.1%). In the same period, the decrease in the number of unemployed men (-1.8%) can exclusively be attributed to the fall in the redundant (-2.5%). For men, the participation rate rose 1.2 pp to stand at 71.9% and the employment rate rose 1.3 pp to stand at 66.2%. The number of men outside the labour force decreased 3.3%.

Increase in employed persons      

The twelve-month increase of 3.2% in the total number of employed persons was influenced by the rises in men (3.1%) and women (3.3%).

By economic sector, the growth in the employed population was influenced by the rises in commerce (3.7%), public administration (10.4%), and education (4.3%). By occupational category, the growth was influenced by the rises in formal wage earners (3.6%) and own-account workers (3.3%).

Labour informality

The informal employment rate rose 1.0 pp year on year to stand at 28.2%. The increase in the number of informally employed persons (7.2%) can be attributed to the rises in women (8.1%) and men (6.4%). By economic sector, the increase can mainly be attributed to the rises in commerce (11.0%) and transportation (14.4%). By occupational category, the increase was influenced by the rise in own-account workers (10.1%).

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 8.3%, an increase 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 1.1% year on year. In contrast, the average number of hours worked fell 2.1% to stand at 37.3 hours. Men worked an average of 39.4 hours, and women worked an average of 34.4 hours.

The combined rate of unemployment and the potential labour force decreased 0.6 pp to stand at 15.7%. This indicator stood at 13.7% for men and 18.3% for women. The gender gap was 4.6 pp.

Metropolitan region  

In the Metropolitan Region, the unemployment rate for the April–June 2024 quarter decreased 0.8 pp year on year to stand at 8.2%. In the same period, the estimated total number of employed persons increased 3.2%. By economic sector, the increase was influenced by the rises in commerce (4.5%), public administration (9.5%), and professional activities (8.6%).

Policy of Revision and Updating of Figures of the 2024 ENE.

Together with the dissemination of results of the National Employment Survey (ENE), INE implemented its fourth version of the revision and updating of figures of the ENE, which analyzes the period from February-March-April 2023 to January-February-March 2024, with the possibility of incorporating other improvements outside this period. The details of this process are given in the respective technical supplement.

With the revision and updating of ENE figures, the National Statistics Institute reaffirms its commitment to the public to continue the production and dissemination of quality official statistical information in a timely, rigorous, and updated manner, in accordance with international best practices.

A note to users

As we reported last month, INE will no longer be publishing and updating the databases in the .sav format, but it will continue publishing databases in the .dta and .csv format. The ENE codebook will include a guide for transforming databases in .dta format to the .sav format.

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 each month forty-eight hours after each official publication of the ENE.

See:

ENE National Bulletin no. 309: April - June 2024

ENE Bulletin for the Metropolitan Region no. 97: April - June 2024 (in Spanish)

ENE Statistical Note, no. 27: April - June 2024 (in Spanish)

Technical Supplement 2024: Revision and Updating of Figures of the ENE of 31 July 2024 (in Spanish)

National Employment Survey (ENE) Presentation of Results – 31 July 2024 (in Spanish)

[1] When rounded with more decimal places, the relative increase in labor force (3.33%) was greater than the increase in employed persons (3.28%).