Employment and unemployment (Provisional data) - August 2024

In August 2024 the number of both employed and inactive people rose, while unemployed persons fell.

On a monthly basis, the increase in employment (+0.2%, +45 thousand) affected men and all age groups except those aged 35-49, for whom a decline in employment was observed, as well as for women. Overall, the employment rate remained unchanged at 62.3%.

In the last month, the drop in the number of unemployed persons (-2.8%, -46 thousand) involved both genders and all age groups, again with the exception of 35-49 year olds. The unemployment rate fell to 6.2% (-0.2 p.p.), the youth rate to 18.3% (-1.7 p.p.).

In August, the number of inactive people aged 15 to 64 increased (+0.4%, +44 thousand) for men, women and persons aged 15-34 and 50+, while it decreased for those aged 35-49. The inactivity rate rose to 33.4% (+0.1 p.p.).

Employment also increased in the period June-August 2024 (+0.5, +114 thousand) in comparison with the previous quarter (March-May 2024).

On a quarterly basis, a drop was registered in the number of unemployed persons (-5.6%, -97 thousand) while the number of inactive people aged 15-64 years grew (+0.6%, +68 thousand).

Compared with August 2023, the number of employed persons rose by 2.1% (+494  thousand) and the growth concerned both genders and all age groups; the employment rate showed an increase of 0.8 p.p. .

On a yearly basis, the rise of employed people was accompanied by a decrease of unemployed persons (-18.3%, -355 thousand) while the number of inactive persons aged 15-64 increased (+0.9%, +106 thousand).