The employment rate in Portugal increased in the third quarter of 2024. Portugal is one of the 10 member states where an increase in employment rate has been observed. Although most of the European Union countries have shown a rise, Portugal has increased its employment rate drastically.
Portugal Employment Rate Increases
Although there have been some difficulties, the European job market has still shown an improvement in terms of new jobs. The statistics show that the occupancy rate among the majority of European countries has increased. For Portugal, this employment rate was higher between July and September this year. The statistics show that:
In the third quarter of 2024, the employment rate of people aged 20 to 64 in the European Union was 75.9%, which corresponds to an increase of 0.1 percentage point compared to the previous quarter.
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However, some European countries have also seen a decline in employment rates. According to the data, 15 countries showed a decline in the rate of employment. Moreover, countries like the Netherlands and Latvia did not show any change in the employment rate compared with previous years. The biggest decline in the employment rate was observed in Luxembourg. Some of the other countries which faced a decline are as follows:
- Luxembourg (1% points)
- Slovenia (0.9% points)
- Estonia (0.7% points)
More Jobs In 2nd & 3rd Quarter Within Europe
According to the statistics, more jobs were given during the second and the third quarters of the year. 23.4% of the people who did not have jobs were offered a job opportunity mostly during the summers this year. Eurostat has revealed that according to their calculations, more than 3.1 million people received new jobs during this year. These jobs were mostly offered from summers till the early winter.
However, around 1.3% of the employees were fired or resigned from their jobs. This marks approximately 2.6 million people who lost their jobs during the same period. During the 2nd and 3rd quarters, 199.3 million people already had their jobs, and they managed to keep their jobs during these quarters. Around 6.7 million unemployed people were unable to get a new job for their living.
Labor Market Rate Decreases
There has been a serious impact on the labor market within the European countries. Recently, it has been observed that most of the people are leaving the labor industry in Europe. Around 3.4 million of the unemployed sectors do not wish to be in the labor market. Additionally, 5 million employed people left the labor market this year.
These people left the labor work and did not look for any new jobs. Hence, it has caused the unemployment rate to increase slightly in some of the European countries. Malta has shown a great increase in the employment rate among all the European Union member countries. There is a 1.4 % increase in the employment rate between the second and third quarters in Malta. In second place is Romania which has shown an increase of 0.6 % in the employment rate. Some of the countries which experienced a higher rate of employment are as follows:
- Malta (1.4 % increase)
- Romania (0.6 % increase)
- Ireland (0.5 % increase)
- Italy (0.5 % increase)
- Cyprus (0.5 % increase)
According to all the statistics, a total of 10 countries experienced an increase in the employment rate among all the European Union countries. 5 of these countries are mentioned above with their respective percentage increase in the employment rate. The other 5 countries also include Portugal which also showed a 0.6% increase in employment, the same as Romania. These increases in the employment rates were observed between the periods of July and September.
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