Employment and unemployment (provisional estimates) - October 2023

In October 2023 the number of both employed and unemployed people grew, while inactive persons dropped.

On a monthly basis, the increase of employment (+0.1%, +27 thousand) concerned men, women and all age groups with the exception of those aged 35-49. Overall, the employment rate rose to 61.8% (+0.1 p.p.).

In the last month, the growth in the number of unemployed persons (+2.3%, +45 thousand) involved both sexes and all age groups, with the exception of the 35-49 age group. The unemployment rate increased to 7.8% (+0.1 p.p.), the youth rate to 24.7% (+1.5 p.p.).

In October, the drop in the number of inactive people aged 15 to 64 (-0.6%, -69 thousand) concerned both genders and all age groups, with the exception of 50+. The inactivity rate fell to 32.9% (-0.2 p.p.).

In the period August-October 2023, with respect to the previous quarter (May-July 2023), employment increased (+0.4%, +104 thousand).

On a quarterly basis, an increase was registered for unemployed persons (+0.3%, +6 thousand) while inactive people aged 15-64 years dropped (-0.9%, -116 thousand).

Compared with October 2022, the number of employed persons rose by 2.0% (+458 thousand), the growth concerned both genders and all age groups except 35-49 years; the employment rate showed an increase of 1.2 p.p. .

On a yearly basis, the rise of employed people was accompanied by an increase of unemployed people (+0.9%, +17 thousand) and a decrease of inactive persons aged 15-64 (-4.2%, -531 thousand).