Increased unemployment and decreased employment

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In the 4th quarter of 2020, 67.0 per cent of the population aged 15-74 was employed. This was down 0.9 percentage points from the same quarter the previous year. The unemployment rate was 4.8 per cent, up 1.0 percentage points. The labour force participation rate remained almost unchanged.

Written by: Erik Horgen

There were 2 706 000 employed persons in the 4th quarter of 2020. That is 26 000 fewer than in the same quarter the previous year. The decrease was strongest among youths, according to new figures from the Labour force survey.

The number of unemployed persons increased from 108 000 in the 4th quarter of 2019 to 137 000 in the same quarter of 2020. The increase in unemployment combined with the decrease in employment has resulted in an almost unchanged labour force participation rate – with exception of the very youngest. Among persons aged 15-19, the labour force participation rate decreased by 4 percentage points, from 41.9 to 37.9 per cent.

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