Montenegro's unemployment rate drops to 17.6% in Q3 2013 – labour force survey

By bne IntelliNews December 23, 2013

The unemployment rate in Montenegro fell to 17.6% in Q3 from 19.2% in Q2 and 18.8% a year ago, likely reflecting favourable seasonal factors, according to the latest labour force survey of the statistics office.

The share of long-term unemployed (over 1 year) in the total number of job seekers remained high and rose to nearly 83.7% in Q3, up from 82.2% a year earlier.

The employment rate increased 1.1pps q/q but edged down 0.2pps y/y to 42.0% in Q3.

The number of economically inactive persons, including discouraged workers and persons not actively seeking employment, decreased by 1.8% y/y to 240,700 in Q3. Its share in total working-age population also inched down to 48.0% from 48.9% over the period.

Montenegro’s unemployment rate has been largely stagnant at around 20% since 2009, with 70% of unemployment being long term.

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