In November 2023, the unemployment rate was 3.5 percent, which means that 293,581 citizens are out of work, according to data from the State Institute for Statistics and Censuses (INEC).

Compared to the same month in 2022, current unemployment decreased. In that period, there were 318,363, or a rate of 3.8%.

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The National Employment, Unemployment and Underemployment Survey released this Friday, December 22, shows that adequate/full employment has increased. In November 2022, the rate was 35.6% (2,981,886), and in November 2023, it was 35.8% (3,037,803).

In terms of gender, men have more opportunities, 40.8% of them, and women 28.7%.

Underemployment, which consists of employees who, during the reference week, earned less than the minimum wage and/or worked less than the legally prescribed hours, and who have the desire and availability for additional work, decreased.

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In November 2022, it amounted to 22.9% (1,921,319), and in the same month of 2023, it amounted to 21% (1,783,421).

More men are underemployed, with a rate of 23.1%, and 18.1% for women.

Urban and rural

In November 2023, the working-age population (PET) in the urban area was 9.1 million people, while the economically active population was 5.6 million people, and the economically inactive population (PEI) was 3.6 million people.

In rural areas, according to November 2023, 67.7% of the total population was able to work. 73.8% of the working-age population was economically active. And of the economically active population, 99% had a job.

Public and private sector

INEC states that out of every 100 jobs, 94 are created in the private sector and about 6 jobs in the public sector.

Furthermore, out of every 100 paid jobs, 86 are created by the private sector and 14 by the public sector.

Meanwhile, as of the previous month, the average income from work for employed men was $311.2, and for employed women was $270.

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