Unemployment rate in November 2024 decreases by 0.2 percentage points when compared to previous year

The unemployment rate for November 2024 was three per cent, at par with the previous month but down by 0.2 percentage points compared to November 2023.

According to the National Statistics Office (NSO) figures, in November 2024 the number of unemployed individuals stood at 9,824 decreasing by 1.2 percentage points from October, and by 4.4 percentage points when compared to November 4.4 percentage points.

The age group of 25 to 74 years was a major contributor to the overall level of unemployment totalling 6,528 while the number of youths amounted to 3,297, equivalent to 33.6 per cent.

During the month, the unemployment rate for males stood at three per cent decreasing by 0.1 percentage points compared to October 2024. On the other hand, the female unemployment rate stood at 2.9 per cent, remaining stable compared to the preceding month.

The youth unemployment rate increased to 10.7 per cent, while the rate for the 25-74 age group stood at 2.2 per cent, remaining stable compared to October 2024.