HCP: Unemployment rate rises to 13.7% in first quarter

Hibapress

The unemployment rate reached 13.7% in the first quarter of 2024, according to the recent information note from the High Commission for Planning (HCP) relating to the situation of the labor market.

“The unemployment rate thus increased by 0.8 point between the first quarters of 2023 and 2024, going from 12.9% to 13.7%, from 17.1% to 17.6% in urban areas. (+0.5 point) and from 5.7% to 6.8% in rural areas (+1.1 point). It also recorded an increase of 2 points among women, from 18.1% to 20.1% and of 0.5 points among men, from 11.5% to 12%,” specifies the HCP.

According to the same source, the number of unemployed increased by 96,000 people between Q1-2023 and Q1-2024, going from 1,549,000 to 1,645,000 unemployed, which corresponds to an increase of 6% (+59,000 unemployed in urban areas and +38,000 in rural areas).

The HCP also reports that the unemployment rate increased by 0.6 points to 35.9% among young people aged 15 to 24, and by 1.1 points to 22% among people aged 25 to 34. years, by 0.9 points to 8% among those aged 35 to 44 and by 0.7 points to 4.5% for those aged 45 and over.

The unemployment rate for graduates, for its part, recorded an increase of 0.5 points to 20.3%. This increase is more pronounced among holders of professional qualification or specialization diplomas (+2.7 points to 25.4%) and qualifying secondary education diplomas (+1 point to 23.6%).

Regarding the volume of employed workers in a situation of underemployment, it increased, between the first quarter of 2023 and that of 2024, from 1,075,000 to 1,069,000 people at the national level (from 573,000 to 571,000 people in the middle urban and from 502,000 to 499,000 in rural areas).

The underemployment rate stagnated at 10.3% at the national level and stood at 12.5% ​​in rural areas and 9% in urban areas.

As for the volume of the employed active population in a situation of underemployment in terms of number of hours worked, it increased from 513,000 to 576,000 people at the national level. The corresponding rate increased from 4.9% to 5.6%.

The employed active population in a situation of underemployment in terms of insufficient income or mismatch between training and employment increased from 562,000 to 493,000 people at the national level. The corresponding rate went from 5.4% to 4.8%.

The said note also reveals that the sectors having experienced a drop in the underemployment rate are construction (building and public works) with 1.4 points to 19% and industry including crafts with 0.8 points to 6 .3%.

On the other hand, agriculture, forestry and fishing and services recorded an increase, with respectively 0.4 points to 12.1% and 0.5 points to 8.3%.

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