The labour market in August

Summary

The total unemployment rate increased in August from 8,8% in July to 9,4% in August. The general unemployment increased from 7,9% in July to 8,5% in August but the reduced unemployment rate was steady with 0,9%.

There were on average 16.439 unemployed in August, (8,5% general unemployment) in addition to 1.743 part-time unemployed (0,9% part-time unemployment) in August 2020.

Unemployment by gender:

The total unemployment by men (general unemployment plus reduced employment rate) in August was 9,3% and 9,6% for women, or up from 8,7% for men in July and up from 9,0% for women in July 2020.

The unemployment by young people:

There were 1.924 young, aged 18-24 years unemployed in August 2020, i.e. general unemployment (excluding part-time employment) or up from 1.907 in July 2020.

The long term unemployed:

There were 3.051 long term unemployed (over 1 year) in August 2020 (excluding part-time employment), up from 2.854 in July 2020.

Open vacancies:

There were 177 new incoming open vacancies in August 2020 or up from 144 new incoming open vacancies in July 2020.

Foreign workers:

There were in total 190 work permits (all types of work permit) issued in August 2020, down from 200 in July 2020. There were 18 foreign service companies registered to Directorate of Labour in August 2020. These foreign service companies employed 125 workers in August 2020.

There were 20 temporary-work agencies registered to Directorate of Labour in August 2020.

These temporary-work agencies hired out 504 workers in August 2020.

The unemployment forecast for
September 2020:

It is expected that the unemployment in September 2020 will increase and be between 9,4% and 9,6% mainly because of expectation of increased partial unemployment rate in September.

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