In the fourth quarter of 2023
Unemployment rate in the Autonomous Region of Madeira rose to 6.2%, with the annual average settling at 5.9%
The results from the Labour Force Survey for the fourth quarter of 2023 indicate an estimated unemployment rate of 6.2% in the Autonomous Region of Madeira (ARM). This figure reflects an increase of 1.4 percentage points (pp) compared to the previous quarter and a decrease of 0.6 pp compared to the same quarter last year.
The employed population stood at 129.4 thousand persons, marking a 3.6% increase year-on-year (+4.5 thousand persons) and a 2.1% decrease compared to the previous quarter (-2.8 thousand persons). Of the employed population, 14.3 thousand persons worked from home, accounting for 13.2% of employed women and 9.0% of employed men.
The estimated unemployed population, totalling 8.6 thousand persons, decreased by 5.5% compared to the same quarter last year (around 500 persons) and increased by 28.0% compared to the previous quarter (approximately 1.9 thousand persons).
The inactive population, estimated at 117.4 thousand persons, decreased by 1.2% compared to the same quarter last year and increased by 1.2% compared to the previous quarter.
The activity rate among persons of working age (16 to 89 years) in the fourth quarter of 2023 was estimated at 62.5%, which is 1.1 pp higher than the same quarter last year and 0.5 pp lower compared to the previous quarter. The activity rate among women was 57.2%, 11.5 pp lower than that of men (68.7%).
In Portugal, the unemployment rate for the quarter under analysis was 6.6%, reflecting a 0.5 pp increase compared to the previous quarter while remaining unchanged from the same quarter last year.
The regions with the highest unemployment rates were Norte with 7.3%, Área Metropolitana de Lisboa with 7.0%, and the Autonomous Region of the Azores (ARA) with 6.9%. Conversely, the regions of Centro, Alentejo, and Algarve recorded the lowest rates, standing at 5.5%, 5.8%, and 5.9%, respectively. The ARM occupied an intermediate position with an unemployment rate of 6.2%.
Unemployment rates increased quarterly in all regions, except for Alentejo which saw a decrease of 0.1 pp. The largest quarterly increases occurred in the ARM (+1.4 pp), Algarve (+1.1 pp), and ARA (+0.9 pp), while the smallest increases were observed in the Lisbon Metropolitan Area (+0.4 p.p.), Centro (+0.5 p.p.), and Norte (+0.6 p.p.).
Year-on-year, the unemployment rate decreased by 0.6 p.p. in the ARM and Área Metropolitana de Lisboa, and by 0.5 pp in Algarve. Conversely, the ARA registered the highest increase (+1.4 pp), followed by Norte (+0.5 pp), Alentejo (+0.3 pp), and Centro (+0.2 pp).
In terms of the annual average, the unemployment rate in the ARM was estimated at 5.9% in 2023, which is 1.1 pp lower than the previous year, marking the lowest value since the series began in 2011.
The unemployment rate in Portugal was 6.5% in 2023, representing a 0.4 pp increase compared to 2022.
In 2023, the unemployment rate decreased in three regions. The ARM saw a decrease of 1.1 pp, reaching a rate of 5.9%. In the Algarve, the reduction was 0.3 pp, resulting in a rate of 5.7%, while in Área Metropolitana de Lisboa, the decrease was 0.1 pp, with the annual unemployment rate standing at 7.2%. Conversely, Alentejo recorded an increase of 1.1 pp, reaching a rate of 6.0%. In Norte, the increase was 1.0 pp, standing at 7.0%. In the ARA, there was an increase of 0.4 pp with the unemployment rate reaching 6.4%. Centro was the only one to maintain the 2022 rate, remaining at 5.2%.
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