Bosnia’s registered unemployment rate dips below 41%

Bosnia’s registered unemployment rate dips below 41%
By Denitsa Koseva in Sofia January 31, 2017

Bosnia & Herzegovina’s registered unemployment rate moved down by 0.1pp m/m to 40.9% in November 2016, data from the country’s labour and employment agency showed.

Bosnia has one of the highest levels of unemployment in the world as the country is still suffering from the consequences of the 1992-1995 Bosnian war, which hit all big companies in the country. Also, the ongoing political and economic uncertainty is deterring foreign investors that could create new jobs.

There were 511,009 registered unemployed in Bosnia at the end of November, and according to data from the statistics office, 738,377 people were in formal employment.

The labour and employment agency also said that the number of registered unemployed moved down 0.19% m/m to 510,022 at end-December. It declined by 5.12% y/y, according to bne IntelliNews calculations.

The number of registered unemployed in the Bosnian Federation declined 4.5% y/y to 372,207 at the end of December. The number in Bosnia’s smaller entity, Republika Srpska, contracted 7.1% y/y to 125,906 and the number in the autonomous Brcko District moved down 1.7% y/y to 11,909.

After its latest mission in November, the International Monetary Fund (IMF) said that Bosnia should focus on reforms aimed at reducing unemployment and improving the business environment. The 2015-2018 Reform Agenda, required by the European Union (EU), is expected to lead to measures that would lower the jobless rate, including to improve legislation and attract investors