Croatia's unemployment rate increases to 17.7% in August.

By bne IntelliNews September 24, 2012
Croatia's registered unemployment rate increased to 17.7% in August from 17.5% in July, the statistics office said in a statement. It was also up compared to the 16.7% level registered in August 2011. The office provided no further details. The number of registered unemployed Croatians increased by 5.7% in annual terms and inched up by a monthly 1% to 301,583 at end-August, the national employment service office has said earlier in September. The number of newly registered unemployed in August alone was 23,906, up 25.4% compared to the same month of 2011. A total of 21,013 individuals were excluded from Croatias unemployment register in August after finding a job, which is a drop of 1.4% compared to a year ago. IntelliNews Comment: We expect that the unemployment rate will continue to increase in annual terms in the following months due to the end of the tourism summer season and the drop in seasonal employment. The worsening economic development of EU countries would have a negative influence on Croatias GDP performance, which on the other hand, would reflect on the unemployment.

Croatia's unemployment rate increases to 17.7% in August.

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