Bosnia’s jobless rate nears 45% at end-August 2013 – employment agency

By bne IntelliNews October 31, 2013

Bosnia’s jobless rate edged up to 44.9% at end-August 2013 from 44.6% at end-July and 44.5% at end-2012, the country’s labour and employment agency said.

The agency also released jobless data for September 2013, pointing out that the number of registered unemployed rose 1.8% y/y to 555,087, same as the month before. The increase in unemployment remains mainly driven by higher unemployment registrations in the Federation (up 3.1% y/y). In monthly terms, the number of unemployed people in Bosnia inched down 0.1% in September after a 0.5% m/m increase in August. The agency did not provide figures on the September’s unemployment rate.

According to the latest IMF forecast, Bosnia’s unemployment, which remains one of the highest in Europe, is set to decline in the mid-term as the economy recovers. In the short-term, however, the unemployment will stay high and together with IMF-enforced austerity measures it will continue to weigh on private demand in 2013. The Fund sees the Bosnian economy expanding by a moderate 0.5% this year after contracting by an estimated 0.7% in 2012.

Number of registered unemployed in Bosnia Dec'11 Dec'12 May'13 Jun'13 Jul'13 Aug'13 Sep'13 y/y,% m/m,%
Bosnia 536,781 550,574 547,325 548,307 552,989 555,820 555,087 1.8 -0.1
Muslim-Croat Federation 371,090 384,852 383,513 385,253 390,458 394,109 393,157 3.1 -0.2
Serb Republic 153,535 153,458 151,372 150,601 150,091 149,307 149,293 -1.8 0.0
Brcko district 12,156 12,264 12,440 12,453 12,440 12,404 12,637; 3.4 1.9
Unemployment rate, % 43.8 44.5 44.4 44.4 44.6 44.9 / / /
Source: Employment agency                
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