Unemployment Rate Slightly Decreases in Q1 2024, According to INS Data
Latest Figures Show a 0.2% Drop in Unemployment Rate Compared to Q4 2023
According to recent data from the National Institute of Statistics (INS), the unemployment rate has slightly decreased during the first quarter of 2024 compared to the last three months of 2023, from 16.4% to 16.2%. This decrease is primarily due to an increase in the number of active individuals, which rose to 4,145,200 people in Q1 2024, up from 4,083,800 in Q4 2023, representing an increase of 61,500 people.
Youth Unemployment Rate Remains High
Among young people aged 15-24, the unemployment rate stands at 39.2%, down from 40.9% in Q4 2024 and 40.2% in Q1 2023.
Unemployment Rate Among Higher Education Graduates Increases
On the other hand, the unemployment rate among higher education graduates has slightly increased in Q1 2024, reaching 23.4%, up from 23.2% in Q4 2023. This phenomenon is more pronounced among women, with 31.2% of female higher education graduates being unemployed, compared to 13.8% among men.
Sectoral Breakdown of Employment
The distribution of employed individuals by sector is as follows:
- 53% in the services sector
- 19% in manufacturing industries
- 13% in non-manufacturing industries
- 15% in the agriculture and fishing sector
