Unemployment rate drops to 6,0% in 2022

With regard to young people, the unemployment rate is 4,4 percentage points lower than in the previous year

The unemployment rate stood at 6,0% in 2022, a decrease of 0,6 percentage points compared to the previous year, and was 6,5% in the fourth quarter, according to data released today by the National Institute of Statistics (INE).

«[In 2022] the unemployment rate was 6,0% and the rate of underutilization of work was 11,4%, both having decreased in relation to 2021 (0,6 percentage points and 1,1 percentage points, respectively )», says INE, which today published employment data for the fourth quarter and for the entire year 2022.

With regard to young people (16 to 24 years old), the unemployment rate stood at 19,0%, 4,4 percentage points less than in the previous year.

Last year, the annual average of the employed population was 4.908,7 thousand people, having increased by 2,0% compared to 2021.

The unemployed population, estimated at 313,9 thousand people, decreased by 7,3% (24,9 thousand) in relation to the previous year, but the proportion of long-term unemployed was estimated at 45,2%, plus 1,8 percentage points than in 2021.