The August figures, according to the World Labor Organization concept, point to an unemployment rate of 8.1 percent, right at 417 thousand unemployed people. The rate of underutilization of labor stood at 15.3 percent, 0.3 percentage points less than in the previous month and 0.7 more than three months ago and 2.7 points than a year ago.
Underutilization of work is an indicator that includes the unemployed population, underemployment of part-time workers, inactive people looking for a job but not available to work and inactive people available but not looking for a job.
The National Statistics Institute reveals that this monthly decrease in the rate of underutilization of work results “from the decrease in the number of inactive people available, but who are not looking for a job, which more than offset the increase in the unemployed population”.
The employed population had an increase of 0.5 percent in relation to the previous month and 1.3 in relation to three months earlier and a decrease of three percent compared to the same month of 2019.
The unemployed population increased by 3.3 percent compared to July 2020, 44 percent compared to May of the same year and 25.7 compared to August 2019.
Marina Conceição – RTP
Downward revision for July
INE revised the July unemployment rate down to 7.9 percent. These definitive results point to 0.6 percentage points (pp) more than in the previous month, 1.6 pp than three months ago and 1.4 pp than a year earlier.
The underutilization rate of labor stood at 15.6 percent, 0.1 pp more than in the previous month, 2.2 pp than three months ago and 2.7 pp than a year ago.
This month, the employed population increased by 0.5 percent compared to the previous month, but decreased by 1.2 compared to three months earlier and 3.1 compared to the same month of 2019.
The unemployed population increased nine percent from June 2020, 26.6 from April of the same year and 20.2 percent from July 2019.