Labor Market Outlook: January 2023

EMPLOYMENT AND LABOR FORCE SHARPLY INCREASED, UNEMPLOYMENT STAGNATED

Since the number of unemployed persons increased by 23 thousand and the number of employed persons increased by 285 thousand, the labor force grew by 308 thousand. As a result, the unemployment rate remained unchanged at 10.2% in November.

The seasonally adjusted female unemployment rate decreased by 0.2 pp to 12.9%, as female employment rose by 190 and unemployment dropped by 7 thousand. As for males, the seasonally adjusted unemployment rate went up by 0.1 pp to 8.8%, following the increase in male employment (95 thousand) and unemployment (30 thousand. As in September and October, female labor force growth was higher than male labor force growth in November. Following these developments, the gender gap in the unemployment rates of females and males fell by 0.3 pp to 4.1% in November.

doc. LaborMarketOutlook2023M01

pdf. LaborMarketOutlook2023M01