Albania's unemployment rate drops 0.8% y/y in Q4

Albania's unemployment rate drops 0.8% y/y in Q4
By bne IntelliNews March 12, 2018

Albania's unemployment rate was 13.4% in the fourth quarter of 2017, dropping by 0.8 percentage points (pp) from a year earlier and 0.2 pp from the previous quarter, according to the definition of the International Labour Organisation (ILO), the Institute of Statistics said on March 12. 

The labour force survey shows a higher level of unemployment than the registered rate. The ILO unemployment rate was expected to move to around 14.2% in 2017 and is expected to fall to 13.7% in 2018.

In the previous quarter, the unemployment rate fell by 1.1pp y/y. 

The unemployment rate for men in Albania was 13.7%, while the rate for women stood at 12.9% in Q4. 

Albania's jobless rate for the 15-64 age band was 13.6% in Q4, down from 14.5% a year earlier.

The rate for young people (in the 15-29 age band) fell by 3.5pp y/y to 24.6% in Q4.

The rate for the 30-64 age band stood at 10.5%, down by 0.1pp y/y, data from the Institute of Statistics' labour force survey indicated.

In Q4, the labour force participation rate was 59.1%, compared to 57.2% a year earlier.