Unemployment drops 2 points YoY in August

The number of unemployed cam to 1,242,219 persons, with the proportion of young people unemployed continuing to hover in the range around 50%. At the same time, unemployment in the age group of 55- 64 years continues to increase (replacement workers of a young age are paid much lower), who find it difficult to follow a new job.

Specifically, from the monthly Labour Force Survey we can gleam the following results:
Employed persons totaled 3,551,148 up by 32,636 persons compared to August 2013 (0.9% increase) and lower by 15,698 persons compared with July 2014 (down 0.4%).

The numbers of unemployed dropped by 112,186 persons compared with August 2013 (8.3% reduction), and 20,398 people in relation to July 2014 (1.6% reduction).

The economically inactive population (people who are not working or looking for work) rose to 3,334,759 people and increased by 29,196 persons compared with August 2013 (0.9% increase) and 31 709 persons compared to July 2014 (1% increase).

Unemployment among women stood at 29.5% (from 32% in August 2013) and remains significantly higher than the unemployment rate for men (23.1% to 24.6%).

Higher unemployment rates were recorded forage groups 15- 24 years (49.3% in August this year from 58.6% in August 2013) and 25 to 34 years (32.7% from 37.7%).