Employment and unemployment (Provisional data) – July 2024

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

On a monthly basis, the increase in employment (+0.2%, +56 thousand) affected women and all age groups except 25-34 year olds, for whom a decrease in employment was observed. Overall, the employment rate grew to 62.3% (+0.1 p.p.).

In the last month, the drop in the number of unemployed persons (-6.1%, -107 thousand) involved both genders and all age groups. The unemployment rate fell to 6.5% (-0.4 p.p.), the youth rate to 20.8% (-0.6 p.p.).

In July, the number of inactive people aged 15-64 increased (+0.6%, +73 thousand) for men, women and persons aged 25-49, while it decreased for those aged 15-24 and 50+. The inactivity rate rose to 33.3% (+0.2 p.p.).

Employment also increased in the period May-July 2024 (+0.3%, +83 thousand) in comparison with the previous quarter (February-April 2024).

On a quarterly basis, a drop was registered in the number of unemployed persons (-4.5%, -82 thousand) while the number of inactive people aged 15-64 years grew (+0.5%, +64 thousand).

Compared with July 2023, the number of employed persons rose by 2.1% (+490 thousand) and the growth concerned both genders and all age groups except 15-24 years old; the employment rate showed an increase of 1.0 p.p..

On a yearly basis, the rise of employed people was accompanied by a decrease of unemployed persons (-16.7%, -334 thousand) while the number of inactive persons aged 15-64 increased (+0.2%, +21 thousand).