Unemployment falls to 13.9%, election quarter creates more jobs

The unemployment rate in the Albanian economy fell further to 13.9% in the second quarter this year.

According to data from the Institute of Statistics, this is the lowest unemployment rate in the economy for the last four years.

The unemployment rate has also fallen for the working-age population, covering the range of 15-64 years, down to 14.3%, from 14.6% in the first quarter.

By gender, unemployment remains the highest among men, by 14.9%.

However, unemployment in men has dropped sharply in the second quarter, while unemployment among women, though lower, has grown slightly to 12.5%.

A further improvement is reported in the youth unemployment rate, which has fallen again by 0.2%.

Although falling in recent years, youth unemployment remains almost twice as high in relation to the economy average.

The employment rate in the economy for the second quarter of this year also improved, reaching 57.3%, from 56.3% in the first quarter.

The employment rate measures the ratio between the number of employees and the working age population.

The June elections seem to have had a positive impact on employment, thanks to the increase in public investment and the expansion of business activity associated with these investments.

According to INSTAT, in the second quarter of this year employment was concentrated even more in the service sector , while employment in agriculture declined.

SCAN

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