Jobless rate jumps 51% in late 2022 – Economy

Transitions to unemployment also accelerated towards the end of the year, marked by worsening labor market conditions.

The transition of workers into unemployment and unemployment accelerated in the last quarter of 2022, statistics on cross-state labor market flows published by the INE show this Wednesday.

In the last quarter of last year, 83,400 workers with jobs lost their jobs. The increase was 51.2% compared to the previous quarter and also 32.9% compared to the previous year.

In fact, INE reports, 1.7% of the employed population went into unemployment, a rate that compares with 1.1% in the third quarter and 1.3% in the same quarter of 2021.

Shifts from employment to unemployment also accelerated. In the last quarter of the year, 141.1 thousand people with work went directly into inactivity, i.e. without being officially classified as unemployed. The increase was 22.7% in quarterly terms and 7.5% compared to the previous year.

That was the reality for 2.9% of workers, up from 2.3% in the previous quarter and 2.7% a year earlier.

The INE data, in addition to the employment and unemployment indicators for the same period published last week, analyze labor market transitions, allowing detailed information on job losses and also the ability of the labor market to convert unemployed and inactive the activity.

In a quarter in which the unemployment rate worsened to 6.5% and employment fell by 0.5% quarter-on-quarter, the released information on flows also shows a slowdown in transitions from unemployment to employment and a decline in transitions from strike directly into employment.

The number of unemployed people who found work stood at 80,000, an increase of just 2.4% compared to the third quarter (up 19.6% in the third quarter) and a decrease compared to the end of 2021. The decrease is 7.5 % compared to a year earlier.

Even so, 26.2% of the unemployed found work, an improvement of a tenth over the previous quarter. However, it is down nine tenths compared to the last quarter of 2021.

The inactive who got a job were 118.3 thousand, less than the previous quarter. The decline was 0.9%. Compared to a year earlier, however, the figure represents a 9.1% improvement.

The rate of inactive people who worked was 3.4%, the same as in the previous quarter and an improvement of three tenths compared to the previous year.

In the last quarter of 2022, 64.5 thousand people went from unemployment to unemployment, 7.9% more than the previous quarter and 0.8% more than last year. This was the case for 21.1% of the unemployed.

In contrast, 98,000 unemployed people remained unemployed, 9.2% more than in the previous quarter (1.7% less than last year). This occurred in 2.8% of people classified as inactive.

Among those who maintained the same professional status in the last quarter, there are 52.7% of the unemployed (161.3 thousand) and 93.8% of the inactive (over 3.2 million).

There were no changes in the employment status of 4.7 million people, or 95.4% of workers, whose universe decreased by 0.6% compared to the previous quarter. Still, they remained in employment 0.4% longer than a year earlier.

Leave a Reply

Your email address will not be published. Required fields are marked *