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KSH: Emplyoment rises, while unemployment drops

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The number of employed people was up 4.9% year-on-year (to 62.9%) in the August-October period, exceeding 4.18 million, while the unemployment rate decreased by 2.7 percentage points year-on-year to 7.1% for the same period, Central Statistics Office (KSH) reported today.

The number of employed people grew by 192,000, while the number of unemployed people dropped by 319,000, according to the estimates reported by KSH.

In August–October 2014, 2.26 million were employed among the 15–64 year-old male population, their employment rate increased by 4.3 percentage points to 69.6% over a year. The number of employed women aged 15–64 was 1.89 million, their employment rate grew by 3.0 percentage points to 56.4%.

Some 20.3% of unemployed people belonged to the 15–24 age group, which is underrepresented in the labor market. The unemployment rate for this age group was 19.5%, 7.3 percentage points lower than a year  ago. The unemployment rate of those aged 25–54, i.e. persons belonging to the ‘best working age’  decreased by 2.5 percentage points to 6.2% and that of people aged 55–64 by 1.8 percentage points to 5.9%.

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