Employment and unemployment (provisional estimates) - October 2024

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

On a monthly basis, employment increased (+0.2%, +47 thousand) for men and those aged 50 and over, while it remained substantially stable for women and those aged 15-24 and fell for those aged 25-49. Overall, the employment rate rose to 62.5% (+0.1 p.p.).

In the last month, the decline in the number of unemployed persons (-3.8%, -58 thousand) affected both genders and all age groups. The unemployment rate fell to 5.8% (-0.2 p.p.), the youth rate to 17.7% (-1.1 p.p.).

In October, the number of inactive people aged 15 to 64 increased (+0.2%, +28 thousand) for women and those under 35, while it decreased for other age groups and men. The inactivity rate rose to 33.6% (+0.1 p.p.).

In the period August-October 2024, with respect to the previous quarter (May-July 2024), employment increased (+0.5, +121 thousand).

On a quarterly basis, a drop was registered in the number of unemployed persons (-9.7%, -163 thousand) while the number of inactive people aged 15-64 years grew (+0.8%, +97 thousand).

Compared with October 2023, the number of employed persons increased by 1.5% (+363 thousand), with the growth affecting both sexes and those aged 25-34 and over 50; employment decreased for those aged 15-24, while it remained substantially stable for those aged 35-49. Over the year, the employment rate showed an increase of 0.6 p.p. .

On a yearly basis, the rise of employed people was accompanied by a decrease of unemployed persons (-26.0%, -519 thousand) while the number of inactive persons aged 15-64 increased (+3.1%, +378 thousand).