The labour market in May 2020

Summary

The unemployment rate increased considerably in May or from 17,8% in April to 13,0% in May. This is mainly because of reduced unemployment among those with reduced part-time unemployment from 10,3% in April to 5,6% in May. The general unemployment was down to 7,4% in May from 7,5% in April

There were on average 14.857 unemployed in May, (7,4% general unemployment) in addition to 11.190 part-time unemployed (5,6% part-time unemployment) in May 2020.

Unemployment by gender:

The total unemployment by men in May was 13,4% and 12,5% for women, or down from 18,0% for men in April and down from 17,6% for women in April 2020.

The unemployment by young people:

There were 2.142 young, aged 18-24 years unemployed in May 2020, i.e. general unemployment (excluding part-time employment) or down from 2.256 in April 2020.

The long term unemployed:

There were 2.563 long term unemployed (over 1 year) in May 2020 (excluding part-time employment), up from 2.393 in April 2020.

Open vacancies:

There were 266 new incoming open vacancies in May 2020, up from 145 new incoming open vacancies in April 2020.

Foreign workers:

There were in total 79 work permits (all types of work permit) issued in May 2020, down from 149 in April 2020. There were 22 foreign service companies registered to Directorate of Labour in May 2020. These foreign service companies employed 106 workers in May 2020.

There were 21 temporary-work agencies registered to Directorate of Labour in May 2020.

These temporary-work agencies hired out 344 workers in May 2020.

The unemployment forecast for
June 2020:

It is expected that the unemployment in June 2020 will decrease and be between 11,0% and 11,3%.

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