Andorra la VellaThe employment rate of the population aged between 15 and 64 for 2023 is 83.2% (+0.7 points compared to 2022). Among employed people aged 15 and over, it is noteworthy that eight out of ten are salaried (81.8% in 2023 versus 83.2% in 2022), 8.5% of those employed have a part-time working day part-time (8.4% in 2022), and 10.2% of employees have an indefinite contract (10.5% in 2022). On the other hand, 18.2% of those employed are self-employed, highlighting an increase of 1.4 points compared to 2022 (16.8%).
The estimated average monthly remuneration of salaried employees in 2023 is €2,448.6 gross; which represents an increase of +9.3% in relation to the year 2022 (gross €2,240.5). Salaried women earn an average of €2,189.4 gross per month, while the average salary of male employees is €2,716.4 gross, which represents a salary gap of approximately €527.
According to the analysis of the average monthly gross remuneration estimated by occupation, the highest remunerations of people aged 45 to 55 (€2,681.4 gross), of employees in the public and parapublic sector (€3,081.7 gross), stand out. those employed with higher education (€2,780.0 gross), full-time workers (€2,551.4 gross), employees with indefinite contracts (€2,523.1 gross), staff with more than of ten years (€2,788.5 gross), managers and technicians (€4,315.6 and €3,287.1 gross, respectively) and workers in the financial sector and industry (€2,689.4 and €2,683.7 gross, respectively).
According to the definition of the International Labor Organization, the unemployment rate for 15 to 74 year olds is 1.6%, this ratio decreases by 0.5 points compared to the year 2022. The percentage of long-term unemployed duration is 7.7% (-10.8 points compared to last year), that is, 66 people who have been unemployed for more than a year and are looking for work. 87.8% of the unemployed have previously worked (87.3% in 2022) and 31.5% are currently out of work due to dismissal or closure of the company for economic reasons. Regarding those registered with the Employment Service, 32.7% of the unemployed have declared that they are registered and 21.2% are receiving some benefit (training, social security, unemployment benefits, financial benefits).
As a complementary indicator to the unemployment rate, the expanded labor force is calculated, which is the sum of the unemployed and all unmet employment needs, including the underemployed; those who are looking for work, but are not available to work; and those who are not looking for work, but are available to work. This rate is 2.5%, representing 1,346 people.
Throughout the year 2023, the inactivity rate of 15 to 64 year olds stands at 15.4% (-0.3 points compared to last year). Inactive people aged 15 and over are mostly retired people, who are studying or receiving training.
In relation to neighboring countries and the surrounding economies, there is a general improvement in labor market rates: an increase in the employed population, a stabilization in the unemployed population, and a decrease in the inactive population. The set of rates in the Principality’s labor market stands out positively compared to rates in Spain, France and Europe as a whole (EU 27 countries).
