The country lost 52,000 jobs compared to the same period last year, a significant drop from the robust growth seen in previous years.
The decline was particularly pronounced in sectors closely linked to domestic consumption. Construction saw the largest job losses, shedding 157,000 positions, followed by manufacturing and retail, which lost 97,000 and 96,000 jobs, respectively.
The Ministry of Economy and Finance attributed the December slump to "dampened consumer sentiment from political uncertainties and the termination of year-end job creation programs."
The data highlighted a persistent gap between older and younger workers. While employment among those aged 60 and above increased by 162,000, youth employment continued to deteriorate, with 194,000 fewer jobs for those in their 20s.
For the entire year of 2024, job growth slowed dramatically, increasing by only 159,000 compared to 816,000 in 2022 and 327,000 in 2023.
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