Unemployment rate at 3.4% in Nov-Jan

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Photo by Fizkes / Shutterstock.com

The unemployment rate stood at 3.4% in the period between November 2019-January 2020, with the average number of unemployed people standing at 160,000, according to data by the Central Statistical Office (KSH).

Photo by Fizkes/Shutterstock.com

Compared to the same period a year before, unemployment among 15–74 year-old men fell by 10,00 to 86,000 and their unemployment rate by 0.4 percentage points to 3.4%. The number of unemployed among women totaled 74,000, and the unemployment rate was 3.5%.

Among people aged 15–24, the number of unemployed decreased to 35,000 and their unemployment rate to 10.9%. More than 20% of the unemployed belonged to this age group.

The unemployment rate of the 25–54 age group decreased to 3.1%, and that of people aged 55–74 decreased to 1.9%.

The average duration of unemployment was 11.2 months; 31% of unemployed people had been searching for a job for one year or more.

According to the administrative data of the National Employment Service, the total number of registered jobseekers decreased by 1.7% to 250,000 at the end of January 2020.

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