According to the data released, the underutilized labor rate increased by 0.9 percentage points compared to the previous month, reaching 31 percent.
According to the data, the number of unemployed people aged 15 and over increased by 9,000 in May compared to the previous month, reaching 2,883,000. The unemployment rate was calculated as 7 percent for men and 10.5 percent for women. During the same period, the number of employed people increased by 285,000, rising to 32,463,000.
The unemployment rate among young people has risen to 14.8 percent, with a particularly noticeable increase in unemployment among young women. Experts state that the rise in the underutilized labor force, a broadly defined indicator of unemployment, points to the continued fragility of the labor market.
On the other hand, the labor force participation rate rose to 52.8 percent, while the number of people outside the labor force decreased. Economists say that employment and labor force indicators should be closely monitored in the coming period.
