In the 4^th quarter of 2024

Unemployment rate in the Autonomous Region of Madeira was 5.7%, with the annual average standing at 5.6%

The results of the Labour Force Survey for the 4^th quarter of 2024 indicate an estimated unemployment rate in the ARM of 5.7%, which is 0.4 percentage points (pp) lower than the same quarter of the previous year. Compared to the previous quarter, the rate remained unchanged.

The total employed population was 125 000 persons, representing a 1.3% increase in year-on-year terms (+1 600 persons), but a 1.1% decrease compared to the previous quarter (-1 400 persons). Of the employed population, 2 800 were in part-time underemployment, 6 200 had a secondary employment, and 18 900 worked from home (17.8% of employed women and 12.5% of employed men).

The estimate for the unemployed population stood at 7 600 persons, showing a 4.6% decrease compared to the same quarter of the previous year, while it increased by 0.3% compared to the previous quarter.

The inactive population was estimated at 125 400 persons, representing an increase of 0.8% compared to the same quarter of the previous year and 1.7% compared to the previous quarter.

The activity rate of the working-age population (16 to 89 years) in the 4^th quarter of 2024 was estimated at 59.7%, 0.1 pp lower than the same quarter of the previous year and 0.8 pp lower than the previous quarter. The activity rate for women was 55.8%, which is 8.2 pp lower than for men (64.0%).

In the same quarter, the unemployment rate in Portugal reached 6.7%, 0.6 pp higher than the previous quarter and 0.1 pp higher than the same quarter of the previous year. The regions with the highest unemployment rates were Peninsula de Setúbal (7.7%), Grande Lisboa (7.4%), and Norte (6.9%). In contrast, the Autonomous Region of the Azores (ARA) recorded the lowest rate, at 5.4%, followed by Algarve at 5.6%, and the ARM at 5.7%. Both Centro and Alentejo recorded an unemployment rate of 5.8%, while Oeste e Vale do Tejo had a rate of 6.2%.

The unemployment rate decreased on a quarterly basis in the regions of Oeste e Vale do Tejo (-1.3 pp), Peninsula de Setúbal (-0.5 pp), and Alentejo (-0.1 pp), remaining unchanged in the ARM, and increasing in the other regions. The largest quarterly increases were observed in Grande Lisboa, with an increase of 1.8 pp, followed by Algarve, with an increase of 1.1 pp.

On a year-on-year basis, the ARA recorded the largest decrease (-1.5 pp) compared to the 4^th quarter of 2023. Decreases were also observed in Norte and ARM (both with -0.4 pp), Algarve (-0.3 pp), and Alentejo (-0.2 pp). In the remaining NUTS 2 regions, the trend was the opposite, with Oeste e Vale do Tejo and Grande Lisboa recording the largest increases (both with +0.9 pp), followed by Centro and Peninsula de Setúbal (both with +0.1 pp).

In terms of the annual average, in 2024, the unemployment rate in the ARM was estimated at 5.6%, which is 0.4 pp lower than the previous year. This is the lowest value in the series since it began in 2011. In 2024, the unemployment rate in Portugal was 6.4%, showing a decrease of 0.1 pp compared to the previous year. The highest rate was recorded in Peninsula de Setúbal, reaching 8.0%, while the lowest was observed in the Autonomous Regions, both at 5.6%. Compared to 2023, increases were observed in the unemployment rates in Oeste e Vale do Tejo (+1.3 pp), Centro (+0.5 pp), and Algarve (+0.1 pp). In all other regions, decreases were noted, with the most significant reductions in the ARA (-0.9 pp), Norte (-0.5 p.p.), and the ARM (-0.4 pp).  

For further information, please refer to:

• In Focus (Portuguese only)
• Publications (Portuguese only)
• Tables
• Short Series
• Long Series

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