Youth unemployment rate remains high, at 21.7 pct in May

The seasonally adjusted unemployment rate fell slightly to 5.5% in May, down 0.1 percentage points from April, but the youth unemployment rate remains high, at 21.7 percent, according to data from the National Institute of Statistics (INS) published on Friday.

The number of unemployed (aged 15-74) estimated for May 2023 was 447,500 people, down compared to the previous month (461,100) and compared to the same period of the previous year (459,700).

By gender, unemployment rate for men exceeded that of women by 0.9 percentage points (the respective values being 5.9% for men and 5% for women).

For adults (25-74 years old), the unemployment rate was estimated at 4.4% for May 2023 (4% for women and 4.8% for men).

The unemployed aged 25-74 represented 76.1% of the total number of unemployed estimated for May 2023.

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