Unemployment rate at 3.5%

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In the period of August–October 2019, the average number of unemployed people was 164,000, and the unemployment rate was 3.5%, with the rate dropping among women but increasing among the younger generations, according to data by the Central Statistical Office (KSH).

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In the first 10 months of 2019, the unemployment among 15–74 year-old men remained essentially unchanged year-on-year. The number of unemployed was 84,000 and the unemployment rate stood at 3.3%.

However, compared to the same period of 2018, the number of unemployed women fell by 8,000 to 80,000, representing an unemployment rate drop of 0.4 percentage points. The rate now stands at 3.8%.

Among people aged 15–24, the number of unemployed increased by 7,400 to 43,000, raising their jobless rate by 2.5 percentage points to 13%. More than a quarter of the unemployed belonged to this age group, KSH says. The unemployment rate of the 25–54 age group decreased by 0.3 percentage points to 3%, and that of people aged 55–74 decreased by 0.7 percentage points to 1.8%.

The average duration of unemployment was 11.2 months; 32% of unemployed people had been searching for a job for a year or more.

According to the administrative data of the National Employment Service, the total number of registered jobseekers decreased by 2% to 239,000 at the end of October 2019.

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