Part 9/12:
Unemployment and the Labor Market Landscape
While the official unemployment rate is relatively low at 4.5%, this figure belies a more complex reality. Due to stringent benefit regulations, individuals are shifting from unemployment to sickness benefits, further complicating the state of the labor market. The combined category of unemployment and sickness benefits has surged by 1 million since 2018, indicating a more serious underlying issue than what headline statistics suggest.