America News Agency

The number of employed persons increased by 273 thousand to 32 million 920 thousand in May 2024 compared to the previous month. The employment rate was 50.0 percent, which increased by 0.4 percentage points. In addition, this rate was 67.3 percent for men and 33.0 percent for women.

The number of people in the labour force was 35 million 931 thousand, which increased by 245 thousand in May 2024 compared to the previous month. The labour force participation rate was 54.5 percent, an increase of 0.3 percentage points. This rate was 72.4 percent for men and 37.1 percent for women.

The youth unemployment rate in the 15-24 age group was 15.0 percent, an increase of 0.3 percentage points compared to the previous month. This rate was estimated at 12.8 percent for men and 19.3 percent for women.

The seasonally and calendar-adjusted average weekly actual working hours of persons at work during the reference period were estimated at 43.9 hours, which decreased by 0.3 hours compared to May 2024.

In May 2024, the rate of a composite measure of labour underutilization consisting of time-related underemployment, potential labour force and unemployment was 25.2 per cent, a decrease of 2.0 percentage points compared to the previous month. While the combined rate of time-related underemployment and unemployment was 17.4 percent, the combined rate of unemployment and the potential labour force was 17.1 percent.