According to the Labour Force Survey data in the third quarter of 2020, number of the employed amounted to 2 936 600, and number of the unemployed to 292 000. Employment rate for the mentioned period amounted to 49.9%, while unemployment rate, in the same period, had the value of 9.0%.
When compared with the same period of the last year, in the third quarter 2020 decrease in unemployment by 16 300 (-5.3%) was noted, while employment was slightly decreased by 2 100 (-0.1%). In scope of total employment, informal employment was decreased (by 42 900) and formal employment was increased (by 40 700).
When compared with the second quarter 2020, in the third quarter 2020, noted was increased employment, by 92 400, and unemployment, by 69 200, and decreased inactivity by 169 100. Relative to the second quarter 2020, inactivity rate was decreased by 2.8 p. p. and amounted to 45.2% in the third quarter 2020. In the same period, unemployment rate was increased by 1.8 p. p. and was 9% and employment rate was increased by 1.6 p. p. reaching the level of 49.9% in the third quarter 2020.
Additional indicators recommended by European Statistical Organization – Eurostat, can better show latest developments on the labour market. These additional indicators refer to the total labour market slack, absence from work, work from home and hours worked.
Labour market slack represents the participation of 1) the unemployed, 2) employees who work less than full time and would like to work more, 3) those who are looking for a job but cannot work and 4) those who can work but do not look for job; in an extended labour force, where the extended labour force includes employed and unemployed persons together with potential labour force (those who are looking for a job but cannot work and those who can work but do not look for job).
Labour market slack in the third quarter of 2020 amounted to 18.7% and, compared to the same period of last year, declined by 0.1 p. p. while compared to the second quarter of 2020, it is lower by 1.2 p. p., suggesting that in the labour market, the so-called unmet need for employment returned to pre-COVID level.
Absence from work is determined by the participation of employed who are absent from work in the total number of employed. In the third quarter of 2020, 6.2% of employed were absent from work, which is by 5.2 p. p. less than in the second quarter of 2020, and by even 2.8 p. p. less than the same period last year.
Work from home, measured by the share of employed who worked from home in total number of employed, in the third quarter of 2020 reached the value of to 9.3%, which is the decrease of 2.8 percentage points relative to the second quarter of 2020 and increase by 1.9 p. p. compared to the same period of last year.
The average weekly hours worked on the main job in the third quarter of 2020 amounted to 39.9 and had risen by 10,2%, compared to the second quarter of 2020 and by 2,6% compared to the same quarter of 2019.