Dear subscriber [name],
We are sending our most recent Flash Note.
Highlights:
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In the fourth quarter of 2023, the unemployment rate rose 2.3 percentage points (pp) compared to the same quarter of 2022, standing at 31.9%, the highest since the Q4 2021;
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The slowdown in non-oil economic activity likely contributed to the acceleration of the unemployment rate and a reduction in the employment rate;
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The overall job growth rate in Q4 was 0.1%, with sectoral data showing that the sectors that contributed most were agriculture and fishing, as well as industry, energy, and water;
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Our outlook for 2024 is that the situation in the labor market will continue to be very difficult, with limited improvements.
Best regards,
BFA
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Rua Amílcar Cabral, 58, Maianga – Luanda
Telephone: 222 638 900 • Fax: 222 638 911
www.bfa.ao
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