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The unemployment rate decreased to 6.4% and the labour underutilisation rate remained at 11.9%
Monthly Employment and Unemployment Estimates
The unemployment rate decreased to 6.4% and the labour underutilisation rate remained at 11.9% - May 2023
29 June 2023

Summary

April 2023:

The active population (5,272.2 thousand) decreased from March 2023 (0.1%), having increased from January of the same year (0.1%) and from April 2022 (1.7%).

The employed population (4,927.7 thousand) increased from the three periods under comparison (previous month, three months before and same month of the previous year): 0.2%, 0.6% and 1.0%, respectively.

The unemployed population (344.5 thousand) decreased by 4.3% from March 2023, by 6.3% from January 2023 and increased by 13.5% from April from a year earlier.

The unemployment rate stood at 6.5%, down 0.3 percentage points (pp) from the previous month, down 0.5 pp from three months before and up 0.6 pp from a year earlier.

The inactive population (2,413.5 thousand) increase 0.2% from March 2023, having decreased from January of the same year (0.3%) and from March 2022 (2.6%).

The labour underutilisation rate was estimated at 11.9%, down 0.1 pp from the previous month, down 0.4 pp from three months before and up 0.6 pp from one year earlier.

May 2023:

The active population (5,270.4 thousand) decreased from the previous month (corresponding to an almost null relative change) and from February 2023 (0.1%), having increased by 1.7% from May 2022.

The employed population (4,931.8 thousand) had a positive relative change from the previous month (0.1%), from three months before (0.3%) and from a year earlier (1.3%).

The unemployed population (338.6 thousand) decreased from the previous month (1.7%) and from three months before (6.4%), having increased from a year earlier (8.5%).

The unemployment rate stood at 6.4%, down from April and February 2023 (0.1 pp and 0.5 pp, respectively), but up from May 2022 (0.4 pp).

The inactive population (2,416.8 thousand) increased from the previous month and from three months before (0.1 pp and 0.2 pp, respectively) and decreased from one year earlier (2.5 pp).

The labour underutilisation rate stood at 11.9%, remained unchanged from the previous month, down 0.2 pp from three months before and up 0.4 pp from the same month of 2022.


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