Jobless ratio declines to 6.3% during April month
Vibin' with the Job Market
Got some hot stats for ya! Check out the recent employment trends according to the National Institute of Statistics (INE). As of April, the unemployment rate stood at a slightly lower 6.3%, compared to the previous month and the same time last year.
Here's the deal: The "Monthly Employment and Unemployment Estimates" reveal the unemployment rate estimates for April were 0.1 percentage points less than the previous month, three months ago, and the same period last year.
Meanwhile, the underutilization rate dropped by 0.2 percentage points compared to the previous month and three months ago, and 0.4 percentage points compared to the same period last year. The active population, at an impressive 5.565 million, hit its highest value since February 1998.
Now, let's talk about the gender gap. The employed population increased by 0.6% compared to the previous month, 1% compared to three months ago, and 3% compared to the same period last year. Meanwhile, the unemployed population decreased by 1.2% compared to the previous month and 1.7% compared to three months ago, but inched up by 0.8% compared to the same period last year.
So, who's got the higher unemployment rate? Women, with a rate of 6.9%, while men are slightly better off at 5.6%. On a more positive note, the youth unemployment rate reached its lowest value since June 2023, clocking in at 19.7%.
But, that's not all. The Institute also shed some light on the gender disparity, reporting that women's unemployment rate exceeded men's. Interestingly, Black women experienced the most significant job losses, with employment dipping and their unemployment rate increasing, while Black men saw a decrease in their unemployment rate. White women and Hispanic women, on the other hand, maintained stable unemployment rates.
Oh, and just so you know, the Institute provided the final estimates for March, showing an unemployment rate of 6.4%. Start your week with that knowledge!
In light of the employment trends, the policy-and-legislation aspect of the gender disparity in the labor market becomes a subject of increasing politics. The "Monthly Employment and Unemployment Estimates" also reveal general-news worthy statistics, such as the higher unemployment rate among women compared to men.
