🧵Last week in the economy of #Angola
👨🏫👩⚕️The unemployment rate dropped 4.1pp in Q3 2022, to a still very high level of 30.0%. Still, the largest drop since the statistical series began, in 2019.
Graph makes it look like decrease not as good as in prev. quarters, but this (+)
👨🏫👩⚕️The unemployment rate dropped 4.1pp in Q3 2022, to a still very high level of 30.0%. Still, the largest drop since the statistical series began, in 2019.
Graph makes it look like decrease not as good as in prev. quarters, but this (+)
is because the labour market is seasonal. Unemployment always rose from Q2 to Q3, so a mild decline is good news. In fact, this is the lowest unemployment rate since Q2 2019 (29.0%).
🎓Youth unemployment rate still super high at 54.2% - a drop of 5pp from same quarter 2021. (+)
🎓Youth unemployment rate still super high at 54.2% - a drop of 5pp from same quarter 2021. (+)
📍Interestingly, in 15-24 years old, unmployment is down 10.2% yoy, employment is up 9.9% yoy, and the inactive population is up 51.5% - lot of young people studying again.
🏙️Largest decrease was in urban unempl., to 37.6% in Q3 (-2.4pp yoy); rural unempl. rose 2.3pp to 16.6%.
🏙️Largest decrease was in urban unempl., to 37.6% in Q3 (-2.4pp yoy); rural unempl. rose 2.3pp to 16.6%.
Sodiam raised $28.7 million in a rare stones auction last week, selling 43 diamonds, totalling 1,820 carats.
The sale revenue was below the high of $56.6M in June 2021, but higher than the last sale at $19.5M.
💎The 170-carat Lulo Rose was sold. (+)
idexonline.com/FullArticle?Id…
The sale revenue was below the high of $56.6M in June 2021, but higher than the last sale at $19.5M.
💎The 170-carat Lulo Rose was sold. (+)
idexonline.com/FullArticle?Id…
💵In the forex market, the Kwanza lost 3.4% against the Dollar, and 7.5% agains the Euro.
📉It's been a hard couple of weeks for the Kwanza, but it's still 8.6% stronger than in the end of 2021, and 16.8% stronger than at this time last year. Movement might reverse somewhat.
📉It's been a hard couple of weeks for the Kwanza, but it's still 8.6% stronger than in the end of 2021, and 16.8% stronger than at this time last year. Movement might reverse somewhat.
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