Croatia's unemployment rate drops to 21.6% in Mar from 21.9% in Feb.

By bne IntelliNews April 23, 2013

Croatia's registered unemployment rate dropped to 21.6% in March from 21.9% in February, the statistics office reported. It was, however, up from 20.1% in March 2012.

Earlier in April, the national employment service office said that the number of registered unemployed rose by an annual 8.4% and dropped by a monthly 1.8% to 368,558 at end-March. The number of newly registered unemployed was 20,655 in March, down 4.9% on the year. A total of 27,497 individuals were excluded from Croatia’s unemployment register in March after finding a job, which is an increase of 10.9% compared to a year earlier.

We expect that the unemployment rate will continue to decline in the following months on monthly basis due to seasonal employment amid the coming tourism season. However, a significant decline in the unemployment rate could not be expected this year as the prospects for the economic recovery are not good.

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