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Employment rate rises by two percent in the first quarter of this year

In the first three months of this year, the employment rate rose by two percent. Data released by the National Statistics Institute (INE) show that the employment rate rose from 61.2 in the last quarter of 2021 to 62.5 in the first quarter of this year.

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"The employed population aged 15 or over was estimated at 11,218,924 people, with 5,580,408 men and 5,638,516 women", reveals the INE.

According to the institute document, the employment rate was estimated at 62.5 percent. Furthermore, the data also show that the employment rate of men (64.7 percent) is higher than that of women (60.4 percent).

The document adds that the employment rate of young people between the ages of 15 and 24 stood at 35.9 percent and that the age groups 34-44 and 45-54 are the ones that "concentrate the largest group of employed people".

The institute also states that "in the first quarter of 2022, the employed population increased by 3 percent compared to the fourth quarter of 2021 and consequently the employment rate increased by 1.2 percentage points compared to the fourth quarter of 2021".

In year-on-year terms, "the employed population increased by 3.7 percent", the figures show.

In addition, the figures indicate that in the first quarter of this year the unemployment rate in the population aged 15 or over suffered a decline of 6.5 percent and the informality rate also recorded a decrease, in the order of 0.2 percent.

For this survey, INE took into account a sample of 10,944 households in the country (6036 in urban areas and 4908 in rural areas). Thus, the institute points out that the unemployed population, accounted for at 5.3 million at the end of last year, rose to 4.9 million.

You can read the document in full here.

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