Unemployment rate holds stable

Information from the Statistics and Census Service (DSEC) indicated that the general unemployment rate for August-October 2018 was 1.8 percent. The unemployment rate of local residents stood at 2.4 percent and the underemployment rate was 0.4 percent.

All three indicators held stable as in the previous July-September 2018 period. The total labor force was 392,900 and the labor force participation rate was 70.8 percent.

Total employment was 386,000 and the number of employed residents totaled 283,400, down by 1,600 and 1,900 respectively from the previous period.

Analyzed by industry, employment in retail trade and the construction sector both registered decreases.
The number of those unemployed was 6,900, similar to the previous period. Fresh labor force entrants searching for their first job accounted for 14.9 percent of the total unemployed, down by 5.7 percent.
In comparison with August-October 2017, both the unemployment rate and the underemployment rate decreased by 0.1 percentage points, while the labor force participation rate remained unchanged.

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