The national unemployment rate was 8.1% in the October–December 2024 quarter (OND 2024), according to information from the National Employment Survey (ENE), which is produced by the National Statistics Institute (INE).

The national unemployment rate decreased 0.4 pp year on year, which was a result of the slower growth in the labour force (0.5%) than in employed persons (0.9%). The decrease in number of unemployed persons (-4.2%) was influenced by the falls in the redundant (-4.0%) and first-time job seekers (-6.5%).

Compared to the same period of the previous year, the participation rate decreased 0.2 pp to stand at 61.6% and the employment rate showed no variation, remaining at 56.6%. The increase in the population outside the labour force (1.7%) was influenced by the rises in inactive persons who are potentially active (9.1%) and the routinely inactive (0.5%).

The unemployment rate for women increased 0.6 pp year on year to stand at 9.4%. The increase was due to the slower pace of contraction in the labour force (-0.1%) than in employed women (-0.8%). In the same period, the number of unemployed women increased 6.8% while the participation rate fell 0.5 pp to stand at 52.1% and the employment rate fell 0.8 pp to stand at 47.2%. The number of women outside the labour force rose 2.0%.

The unemployment rate for men (7.1%) decreased 1.1 pp year on year as a result of the slower growth in the labour force (0.9%) than in employed men (2.2%). In the same period, the number of unemployed men fell 13.2%. For men, the participation rate showed no variation, remaining at 71.4%, while the employment rate rose 0.8 pp to stand at 66.3%. The number of men outside the labour force increased 1.0%.

Increase in employed persons

The estimated total number of employed persons increased 0.9% year on year as a result of the rise in employed men (2.2%).

By economic sector, the expansion in the employed population was influenced by the rises in public administration (8.7%), health activities (6.5%), and mining (6.7%). By occupational category, the expansion was influenced by the rises in formal wage earners (2.4%) and informal wage earners (4.2%).

Labour informality

The informal employment rate fell 1.1 pp year on year to stand at 26.4%. The decrease in informally employed persons (-3.4%) was influenced by the falls in men (-3.3%) and women (-3.5%). By economic sector, the decrease in the informally employed can mainly be attributed to the falls in commerce (-5.8%) and other service activities (-12.9%). By occupational category, the decrease was influenced by the falls in own-account workers (-7.8%) and unpaid family workers (-17.3%).

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 0.2% year on year while the average number of hours worked fell 0.9% to stand at 37.7 hours. Men worked an average of 40.0 hours, and women worked an average of 34.5 hours.

The combined rate of unemployment and the potential labour force increased 0.2 pp year on year to stand at 16.4%. This indicator stood at 13.6% for men and 19.8% for women. The gender gap was 6.2 pp.

Metropolitan Region 

In the Metropolitan Region, the unemployment rate for the October–December 2024 quarter decreased 0.6 pp year on year to stand at 8.8%. In the same period, the estimated total number of employed persons decreased 0.3%. By economic sector, the decrease was mainly influenced by the fall in commerce (-4.9%). By occupational category, the decrease was mainly influenced by the fall in own-account workers (-5.8%).

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