[2019-12-31] Unemployment rate in Cabo Verde falls in first half of 2019

Source: Macauhub

The unemployment rate in Cabo Verde decreased from 12.2% in 2018 to 10.7% in the first half of 2019, a drop of 1.4 percentage points, and the rate of underemployment increased by seven percentage points to 21.7%, the archipelago’s National Statistics Institute (INE) said on Monday.

The figures on the labour market published by INE showed that the employed population totals 206,300 people, an increase of 11,300 people compared with 2018, thus contributing to an increase in the activity rate of 55.6% to 57.1% and the rate of employment/occupation of 48.8% to 50.9%, compared with the same indicators estimated in 2018.

The unemployed population was estimated at 24,800 people, according to the same figures and in urban areas this declined from 12.4% in 2018 to 10.3% in the first half of 2019, and in rural areas the trend was reversed, with an increase of 0.4 percentage points to 11.9%.

The same figures also showed that the age group with the highest rate is people aged between 15 and 24, with 25.7%, followed by the age 25-34 age group with 11.2%.