In the third quarter of 2020

Estimated unemployment rate was 8.6%

The Labour Force Survey results for the third quarter of 2020 indicate that the unemployment rate for the Autonomous Region of Madeira (ARM) was estimated at 8.6%. This value increased by 1.9 percentage points (p.p.) when compared with the previous quarter and 1.7 p.p. from the same quarter of last year. It is the highest value since the 4^th quarter 2018 and reflects the impact of COVID-19 pandemic in the regional labour market.

The estimate of the unemployed population in the A.R. Madeira stood at 11.8 thousand persons, having recorded a year-on-year increase of 22.3% and a quarterly rise of 37.9%.

The employed population was estimated at 125.2 thousand persons, representing a year-on-year drop of 3.7% and a quarterly increase of 4.5%. This quarterly growth is explained by the fact that between April and June 2020, due to the restrictive measures to contain the pandemic which greatly affected the economy, many people were counted as inactive whereas in the 1^st quarter they had been considered employed or unemployed.

The inactive population stood at 116.9 thousand persons in the reference quarter, increasing by 3,5% year-on-year. Compared to the previous quarter, there was a decrease of 6.9%, explained by what was mentioned before.

The unemployment rate for Portugal stood at 7,8%, up by 2.2 p.p. from the previous quarter and also up by 1.7 p.p. year-on-year.

In the 3^rd quarter of 2020, all the NUTS2 regions saw their unemployment rate increase. The largest growth was recorded in Área Metropolitana de Lisboa (+3.0 p.p.) and Alentejo (+2.9 p.p). The least pronounced growth was registered in Centro and Algarve (+1.1 p.p. in both cases). 4 regions of the country - Área Metropolitana de Lisboa (9.5%), A.R. Madeira (8,6%), Algarve (8.5%) and Norte (7.9%) - have an higher unemployment rate than the country. Below national average (5.6%) stand Centro (5.8%), Alentejo (6.2%) and the A.R. Açores (6.7%).

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