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Unemployment has declined in the third quarter of the year. According to Instat data, the official unemployment rate is estimated at 11.3%, down slightly from 0.3% compared to the same period a year ago, as well as the previous quarter.
Employment in the industrial sector has seen the most significant improvement, which according to statistics increased by about 10.1% compared to the same period in 2020.
Although at a slower pace, employment in the services sector also showed a recovery in July-September, which coincides with the summer season, marking an increase of 0.5%.
The opposite has happened with agriculture, which has continued the downward trend of employment this quarter, as statistics show 4.5% fewer employees than the same period a year ago in this sector that is suffering labor shortages, mainly as a result of mass emigration but also demographic movement from rural areas to urban centers.
Meanwhile, youth unemployment has shown a downward trend during this period, decreasing to 19.9% at the end of September, from 20.7% which was calculated compared to the same period last year, but has remained the same levels against a quarter ago.
Despite the slight improvement, unemployment remains at worrying levels and the labor market is recovering at a slow pace, reflecting the great blow it received from the crisis.
Next year the government expects the unemployment rate to drop further and its rate to drop to 10.3% by the end of 2022.
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