The country’s ILO unemployment rate stood at 7.5 per cent of the labour force, stable compared to Q3 2023, for which the estimate has been slightly revised upwards.
The unemployment rate decreased by 0.2 points over the quarter for people aged 15 to 24 in Q4 2023 to 17.5 per cent, 0.6 points above its level from a year ago.
For those aged 25 to 49, it increased again by 0.2 points over the quarter to 7 per cent, and stood 0.5 points above its level from a year ago. Finally, for those aged 50 or more, the unemployment rate was virtually stable over the quarter at 5 per cent, the same as a year ago.
Among the unemployed, 571,000 people on average in Q4 2023 declared being jobless and having been job seeking for at least one year. This number rose by 33,000 over the quarter.
Thus, the long-term unemployment rate increased slightly over the quarter (plus 0.1 points) to 1.9 per cent of the labour force.
In Q4 2023, 4.5 per cent of employed people were underemployed. This share was virtually stable over the quarter (plus 0.1 points) and over the year (minus 0.1 points).
ALCHEMPro News Desk (DS)
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