The labour market in October

Summary

The total unemployment rate increased in October from 9,8% in September to 11,1% in October.  The general unemployment increased from 9,0% in September to 9,9% in October but the reduced unemployment rate increased from 0,8% to 1,2%.

There were on average 18.510 unemployed in October, (9,9% general unemployment) in addition to 2.151 part-time unemployed (1,2% part-time unemployment) in October 2020.

Unemployment by gender:

The total unemployment by men (general unemployment plus reduced unemployment rate) in October was 10,8% and 11,4% for women, or up from 9,7% for men in September and up from 10,0% for women in September 2020.

The unemployment by young people:

There were 2.157 young, aged 18-24 years unemployed in October 2020, i.e. general unemployment (excluding part-time employment) or up from 1.921 in September 2020.

The long term unemployed:

There were 3.614 long term unemployed (over 1 year) in October 2020 (excluding part-time employment) up from 3.274 in September 2020. The ratio of the long term unemployed compared to the total number of unemployed has been rather steady with 18% the last months.  

Open vacancies:

There were 175 new incoming open vacancies in October 2020 or down from 206 new incoming open vacancies in September 2020.

Foreign workers:

There were in total 151 work permits (all types of work permit) issued in October 2020, down from 201 in September 2020.  There were 23 foreign service companies registered to Directorate of Labour in October 2020.  These foreign service companies employed 129 workers in October 2020.

There were 23 temporary-work agencies registered to Directorate of Labour in October 2020.

These temporary-work agencies hired out 458 workers in October 2020.

The unemployment forecast for
November 2020:

It is expected that the unemployment in November 2020 will increase and be between 11,7% and 11,9% mainly because of the covid-19 situation as well as the seasonal fluctuation.

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