Macedonia’s unemployment rate drops 1.7 pps y/y to 29.9% in Q1 2013.

By bne IntelliNews June 17, 2013

Macedonia's unemployment rate decreased by 1.7 pps y/y to 29.9% in Q1 2013, according to data of the statistics office. In q/q terms, the rate declined by 0.7 pps from 30.6% in Q4 2012. The labour force rose by 1.4% on the year to 953,780 in Q1. The number of the employed increased by 3.9% y/y to 668,957, while the number of the unemployed dropped by 4.2% y/y to 284,823.

In Q1, the unemployment rates for the age groups 15-24, 25-49 and 50-64 years were 53.5%, 28.3% and 24.8%, respectively. The unemployment rate for the age group 15-64 was 30.1%, while the rate for those aged 65 years and more was 6.1%.

Earlier this month, the government said that 224,157 persons have confirmed their registrations as unemployed with the state employment agency. The figure includes 98,726 people actively seeking a job and 125,431 persons who are not active job seekers. The above number of registered unemployed is significantly below the survey-based estimates reported quarterly by the statistics office, which we consider a more reliable source.

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