Bosnias jobless rate picks up to 44.3% at end-Oct 2012 employment agency.

By bne IntelliNews January 14, 2013
Bosnias jobless rate edged up to 44.3% at the end of October 2012 from 44.2% a month earlier, the countrys labour and employment agency said in a statement. The unemployment rate stood at 43.8% at end-2011. The agency also gave figures for November, pointing out that the number of registered unemployed increased by an annual 2.9% accelerating from a 2.8% annual increase in October. In monthly terms, the number of unemployed was 0.3% higher in November, following a 0.1% m/m rise in October. The agency did not say what the unemployment rate at end-November was. Bosnias statistics agency has reported earlier the number of people in paid employment totalled 687,009 at end-October, down 0.4% in annual terms and 0.2% on the month. According to the latest IMF forecast, Bosnias unemployment, which remains one of the highest in Europe, is set to decline in the mid-term as economy recovers. In the short-term, however, the unemployment will stay high and together with fiscal tightening it will continue to weigh on domestic demand in 2013. The Bosnian economy is projected to expand moderately by 1% this year.

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