In January 2024 the number of both employed and unemployed people fell, while inactive persons rose.
On a monthly basis, the decline in employment (-0.1%, -34 thousand) affected men and people up to the age of 34, while employment increased among women and those aged over 50. Overall, the employment rate fell to 61.8% (-0.1 p.p.).
In the last month, the drop in the number of unemployed persons (-0.2%, -4 thousand) involved men and people in the 15-24 and 35-49 age groups; unemployment increased slightly among women and people aged 50 and over. The unemployment rate remained unchanged at 7.2%, the youth rate grew to 21.8% (+0.2 p.p.).
In January, the rise in the number of inactive people aged 15 to 64 (+0.5%, +61 thousand) concerned men and persons aged 15 to 49. The inactivity rate rose to 33.3% (+0.2 p.p.).
In the period November 2023-January 2024, with respect to the previous quarter (August-October 2023), employment increased (+0.4%, +90 thousand).
On a quarterly basis, a drop was registered for unemployed persons (-3.5%, -67 thousand) while the number of inactive persons aged 15-64 years remained stable.
Compared with January 2023, the number of employed persons rose by 1.6% (+362 thousand), the growth concerned both genders and all age groups except 35-49 years; the employment rate showed an increase of 0.8 p.p.
On a yearly basis, the rise of employed people was accompanied by a fall of both unemployed people (-8.1%, -162 thousand) and inactive persons aged 15-64 (-1.3%, -157 thousand).
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