The NBS reported in a study that the unemployment rate rose from the 5% reported in Q3 2023.
“Compared to 5.0% in Q3 2023, the unemployment rate increased to 5.3% in Q1 2024. According to NBS, the unemployment rate for men was 4.3% and for women it was 6.2%.
“For the first quarter of 2024, the unemployment rate by place of residence was 4.3% in rural areas and 6.0% in urban areas.”
According to the organization, the percentage of the labour force—which consists of both employed and jobless individuals—that is not working but is actively looking for work is known as the unemployment rate.
The unemployment rate for young people fell from 8.6% in Q3 2023 to 8.4% in Q1 2024.
The bureau’s research says that unemployment by educational attainment in Q1 2024 was 2.0 percent among individuals with postgraduate education, 9.0 percent for post-secondary education, 6.9 percent for secondary education, and 4.0 percent for individuals with only primary education.
