Number of unemployed in Croatia up by 11.4% y/y in October.

By bne IntelliNews November 9, 2010
The Croatian Employment Service (HZZ) reported an increase in the number of registered unemployed by 11.4% y/y and by 5.5% m/m to 304,479 in October. The figure translates into a jobless rate of around 17.8% in our calculations, up by 0.9pps m/m and by 2.3pps y/y. The number of newly registered unemployed increased by 14.6% m/m to 33,571. At the same time, the number of people, excluded from the unemployment register, declined by 19.6% m/m to 18,595. The statistics office will later release the official unemployment rate for October. Intellinews comment: It could be expected that the unemployment rate will continue to increase in annual terms. In the following months the y/y growth of the jobless rate could be expected to accelerate, taking into account the seasonal development of unemployment.

Number of unemployed in Croatia up by 11.4% y/y in October.

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