However, there was a slight quarterly decline, with employment numbers falling by 18,400, accompanied by a corresponding reduction in the labour force.

The employment rate for the fourth quarter of 2024 stood at 74.3 percent, reflecting a modest rise of 0.3 percentage points from 74.0 percent the previous year.

Meanwhile, the unemployment rate dropped to 4 percent, down from 4.2 percent in 2023, with 116, 100 people registered as jobless.

This data also indicates a surge in the total number of hours worked per week, which grew by 3.1 million hours or 3.8 percent year-on-year. Sectorial analysis revealed that human health and social work activities experienced the most significant hikes, with employment rising by 17,200 people, a 4.7 percent increase, while additional gains were observed in the construction and information & communication sectors.

In contrast, the wholesale and retail trade, along with the repair of motor vehicles and motorcycles, saw the largest employment decline. The sector recorded a decrease of 17,300 jobs, representing a 5 percent drop, as employment in administrative and support service activities also fell during this period.

Despite some sectoral reductions, the overall labour market trend in 2024 indicates steady growth, with employment levels continuing to rise on an annual basis.