Unemployment rate remains a stead 2.4% – NSO

The seasonally adjusted monthly unemployment rate for December 2023 stood at 2.4 per cent, at par with the previous month, the NSO said Monday

The unemployment rate for December 2023 stood at 2.4 per cent, at par with the previous month, and decreasing by 0.6 percentage points from December 2022.

During December 2023, the number of unemployed persons was 7,558, with the 25 to 74 age group being the major contributor to the overall level of unemployment. The seasonally adjusted number of unemployed youths amounted to 2,032, whereas the number of unemployed individuals aged between 25 and 74 years stood at 5,527.

For December 2023, the unemployment rate for males stood at 2.3 per cent unchanged from the previous month. Meanwhile, the rate for females stood at 2.6 per cent, decreasing by 0.1 percentage points as compared to November 2023.

The unemployment rate for persons aged 15 to 24 years (youth unemployment rate) decreased to 6.9 per cent, while the rate for those aged between 25 and 74 years stood at 2.0 per cent, increasing by 0.1 percentage points from November 2023.