Labor Market Outlook: July 2022


Since the number of employed persons increased by 358 thousand and the number of unemployed persons decreased by 56 thousand, the labor force rose by 302 thousand. As a result, the unemployment rate decreased 0.3 pp to 10.9% from April to May.

Seasonally adjusted female unemployment rate edged down by 0.5 pp MoM to 13.8% as the female employment rose by 173 thousand while the number of unemployed females decreased by 30 thousand. On the other hand, seasonally adjusted male unemployment rate declined by 0.2 pp to 9.5% following the increase in male employment by 186 thousand and the decline in the number of unemployed males by 27 thousand. Following these developments, the gender gap in the unemployment rates of females and males edged down to 4.3%.

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