The national unemployment rate was 8.7% for the May–July 2024 quarter (MJJ 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 (pp) year on year, which was due to the slower growth in the labour force (2.4%) than in employed persons (2.5%). Meanwhile, the increase in the number of unemployed persons (1.4%) can be exclusively attributed to the rise in the redundant (2.1%).

Compared to the same period in the previous year, the participation rate increased 0.9 pp to stand at 61.9%, and the employment rate increased 0.9 pp to stand at 56.5%. In the same period, the decrease in the population outside the labour force (-1.4%) was influenced by the falls in the routinely inactive (-1.2%) and future starters (-35.9%).

The unemployment rate for women (9.1%) increased 0.1 pp year on year as a result of the faster growth in the labour force (2.6%) than in employed women (2.5%). In the same period, the number of unemployed women increased 4.1%, while the participation rate rose 0.9 pp to stand at 52.6% and the employment rate rose 0.7 pp to stand at 47.8%. The number of women outside the labour force fell 0.9%.

The unemployment rate for men (8.3%) 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 (-0.8%) was influenced by the falls in the redundant (-0.6%) and first-time job seekers (-2.6%). For men, the participation rate rose 1.0 pp to stand at 71.6% and the employment rate rose 1.1 pp to stand at 65.6%. The number of men outside the labour force decreased 2.3%.

Increase in employed persons

The twelve-month variation of 2.5% in the total number of employed persons was influenced by the 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 (3.3%), public administration (5.7%), and education (4.0%). By occupational category, the growth was influenced by the rises in formal wage earners (3.3%) and informal wage earners (4.2%).

Labour informality

The informal employment rate rose 0.7 pp year on year to stand at 27.6%. The increase in the number of informally employed persons (5.4%) can be attributed to the rises in women (6.3%) and men (4.6%). By economic sector, the increase can mainly be attributed to the rises in commerce (10.1%) and public administration (22.9%). By occupational category, the increase was influenced by the rise in own-account workers (6.6%) and wage earners of the private sector (2.6%).

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 8.5%, 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, decreased 0.1% year on year, while the average number of hours worked fell 2.6% to stand at 36.8 hours. Men worked an average of 39.0 hours, and 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 16.4%. This indicator stood at 14.5% for men and 18.7% for women. The gender gap was 4.2 pp.

Metropolitan region 

In the Metropolitan Region, the unemployment rate for the May–July 2024 quarter decreased 0.5 pp year on year to stand at 8.8%. In the same period, the estimated increase in the total number of employed persons was 2.3%. By economic sector, the increase was influenced by the rises in commerce (5.9%), education (5.4%), and public administration (7.3%).

A note to users

As we reported in July 2024, we remind users that INE will no longer be publishing and updating the databases in the .sav format. INE will however continue publishing databases in the .dta and .csv format. The ENE codebook includes a guide on how to transform 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 publication.

See:

ENE National Bulletin no. 310: May–July 2024

ENE Bulletin for Metropolitan Region no. 98: May–July 2024

ENE Statistical Note, no. 28: May–July 2024 (in Spanish)

National Employment Survey (ENE) Presentation of Results – 29 August 2024 (in Spanish)