Unemployment rate drops to 4.2%

The country’s estimated unemployment rate for the first quarter 2016 has dropped marginally to 4.2% from 4.3% in the fourth quarter of 2015, the Census and Statistics Department releasing its Labour Force Survey – 1Q 2016 said. The number of unemployed persons is estimated as 349,686 during the first quarter 2016 and the unemployment rate declined to 4.2% from the average 4.6% in 2015.

However, the Census and Statistics Department said when sampling error is considered there are no statistically significant drops/increases of unemployment rates reported in different time periods starting from first quarter 2013 to first quarter 2016.

The unemployment rate is the proportion of unemployed population to the total labour force, which is the economically active population.

According to the latest data the estimated economically active population is about 8.3 million in the first quarter, of which 5.26 million or 63.3% are males and 3.05 million or 36.7% are females.

Out of the economically inactive population of 7.06 million, 24.2% are males and 75.8% are females.

Overall unemployment rate reported for females is 6.1% and 3.1% for males.

Unemployment rate of youth from age 15-24 years group was the highest in the first quarter 2016 at 21.5% with 19.0% of males and 25.9% of females unemployed.

In the first quarter of this year, 45.5% of the estimated employed population were engaged in Services sector, 28.5% in Agriculture sector and 26.0% in Industry sector.