INSUBCONTINENT EXCLUSIVE:
The National Statistics Institute (INE) released this data on Tuesday, revealing a 0.2 percentage point decrease from the same period last
However, the number of employed individuals increased at a slightly higher rate of 2.4%
This difference contributed to the overall reduction in unemployment
The trend suggests a gradual strengthening of the job market.Several sectors played key roles in boosting employment
Commerce, education, hospitality, and food services saw notable increases in job creation
These industries have been instrumental in absorbing new workers and rehiring those previously unemployed
Formal salaried positions and informal employment both saw increases
While formal job growth is encouraging, the rise in informal work highlights ongoing challenges.The number of unemployed individuals rose
slightly by 0.3% over the year
This increase was solely due to first-time job seekers, who grew by 4.2%
The statistic suggests that more people, particularly youth, are entering the job market
It may indicate growing confidence in employment prospects.Labor force participation reached 61.7%, while the employment rate stood at 56.3%
These figures show a significant portion of the working-age population actively engaged in the job market
Meanwhile, the number of people outside the workforce decreased by 1.1%
disparities in unemployment persisted but showed some improvement
The unemployment rate for women remained at 9.2%, while for men, it stood at 8.4%
Both figures represent a 0.3 percentage point decrease over the year
This trend suggests slow but steady progress towards gender equality in employment.Informal employment rose slightly to 27% of total
employment, a 0.3 percentage point increase
The number of informally employed individuals grew by 3.6%
Both men and women contributed to this rise, primarily in commerce and education sectors
