Unemployment rate stood at 7,5% in October

The statistical office indicates that, in October, the youth unemployment rate was estimated at 23,9%, corresponding to a 0,4 percentage point decrease compared to the September 2020 rate. The adult unemployment rate was estimated at 6,4%, having decreased 0,4 percentage points compared to September.

The unemployment rate stood at 7,5% in October, 0,4 percentage points less than in September, according to the provisional monthly estimate for employment and unemployment, released by the National Statistics Institute (INE), this Monday. November 30th.

Compared to the same period last year, the employment rate in October was 1,0 percentage points higher.

The statistical office indicates that, in October, the youth unemployment rate was estimated at 23,9%, corresponding to a decrease of 0,4 percentage points in relation to the September 2020 rate. The adult unemployment rate was estimated 6,4%, having decreased 0,4 percentage points compared to September.

INE estimates that in October the active population stood at 5.153,0 thousand people, “having decreased 0,1% (3,4 thousand) in relation to the previous month and increased 1,1% (55,7 thousand) compared to three months earlier ”. "Compared to a year earlier, the active population decreased by 1% (50,6 thousand)", points out the national statistical office.

The estimate of the employed population, which corresponded to 4.765,2 thousand people, registered an increase of 0,3% (15,8 thousand) compared to September and 1,5% (71,7 thousand) in relation to three months before , “Having decreased 2,1% (101,2 thousand) compared to a year earlier”, support the INE data. Thus, the employment rate stood at 61,2%, 0,2 percentage points higher than in September and 0,9 percentage points higher than in July, 1,5 percentage points lower than in October 2019.

According to INE data, the provisional estimate of the inactive population was 2.631,4 thousand people, having increased by 0,2% (6,2 thousand) compared to the previous month and 2,8% (70,4 thousand) ) compared to the previous year and decreased by 2% (53,1 thousand) compared to July this year. In turn, the inactivity rate was 33,8%, 0,1 percentage points higher than in September and 0,8 percentage points compared to October 2019.

Thus, the data indicate that the provisional estimate of underutilization of work - an indicator that includes the unemployed population, underemployment of part-time workers, inactive people looking for a job but not available to work and inactive people available but not looking for a job - stood at 811,2 thousand people, corresponding to a decrease of 2,1%, or 17,7 thousand people, compared to September, and 3%, or 25,1 thousand people, compared to July , with an increase of 20,4%, or 137,5 thousand people, compared to October last year.

In an agreement, INE reveals that the unemployment rate stood at 7,9% in September, compared to the initial estimate of 7,7%. Thus, the rate decreased by 0,2 percentage points in relation to the month of August and increased by 1,4 percentage points compared to the same month of 2019.

Still in relation to the month of September, data from the national statistics office show that the employed population increased by 0,7% compared to August and 1,7% in relation to June 2020, having presented a decrease of 2,5% when compared to September 2019. The unemployed population, on the other hand, decreased 1,7% in relation to August and increased 9,9% in relation to three months before, having registered an increase of 19,5% in comparison with September 2019. On the other hand, the rate of underutilization of labor was 15,4%, 0,1 percentage points less than in August and three months ago, and 2,7 percentage points more than in September last year.

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