Unemployment rate rose slightly in August to 3.8%

Posted on Sep 19, 2019 by Ifi Reporter

The unemployment rate rose slightly in August to 3.8% of the workforce, compared with 3.7% in the month before. This is evident from data published by the Central Bureau of Statistics.
These figures come after encouraging figures were published last month, which saw a drop in the unemployment rate to a historic low of 3.7% in July. This is after the previous June, an increase of 4.1%, which led to estimates of a trend change and deepening unemployment in the economy. The fall in unemployment last month surprised against the backdrop of estimates of a slowdown in the economy's growth, but it may take some time before the slowdown is reflected in the labor market dismissal.
According to the figures, the total number of employed persons in August was 3.957 million among persons aged 15 and over, an increase of 0.2% compared to the previous month, while the number of unemployed persons was about 155,000. The employment rate remained at 60.8% of the population, similar to the previous month, with the employment rate remaining at 65% for men and 56.7% for women.
Among those aged 25-64, there was a slight increase in the rate of participation in the workforce, ie the number of working-age citizens who are working or looking for work, to 80.2%, after a slight decline in the previous month, to 79.7%. The unemployment rate in this age group, which does not include soldiers and students, climbed slightly from 3.3% in the previous month to 3.5% in August.
The figures also show that the number of full-time employees (35 hours and more per week) decreased by 1.1% compared to the previous month, which is about 34,000 employed persons, while the number of full-time employees (less than 35 hours per week) increased by 2.9 %, Which is an addition of about 25,000 employed persons.


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