The National Institute of Statistics (INE) has recently incorporated data from the 2021 Population and Housing Census into the Active Population Survey (EPA) for the past three years. This update has led to a review of labor market data during this period. The revised census data, which shows an increase in the population living in family homes by 337,600 people, has resulted in changes to key indicators of the labor market in the last year.
One significant change is the number of employed individuals, which stood at 21,389,700 at the end of last year, representing an increase of 142,800 compared to the previous calculation. The net job creation in 2023 was revised slightly lower than initially estimated, with 749,000 new jobs created. The unemployment rate also saw a slight increase from 11.76% to 11.8%, with the total number of active individuals increasing to 24,250,600 people.
Furthermore, the total number of unemployed individuals in 2023 was slightly higher compared to the previous estimate, with 2,860,800 unemployed individuals. Despite this, the net unemployment balance in 2023 showed an improvement, with 220,800 fewer unemployed individuals compared to the previous calculation. Overall, the revisions indicate that the total number of active and employed individuals is higher with the new population figures, with improvements distributed over the past three years.
The INE explained that the publication of new population figures requires a review of household survey data, as these surveys are based on these population totals. This process is common and recommended by the Statistical Office of the European Union (Eurostat) and is carried out every decade. With the new annual censuses in place, these updates to the EPA will no longer be necessary in the future.