Albania's unemployment rate falls 1.7% y/y in Q1

Albania's unemployment rate falls 1.7% y/y in Q1
By bne IntelliNews June 11, 2018

Albania's unemployment rate was 12.5% in the first quarter of 2018, falling by 1.7 percentage points (pp) from a year earlier and 0.9 pp from the previous quarter, according to the definition of the International Labour Organisation (ILO), the Institute of Statistics said on June 11. 

The labour force survey shows a higher level of unemployment than the registered rate. The new jobs reduced the jobless rate to 13.4% in 2017 from 14.2% a year earlier.

According to European Commission the jobless rate is expected to move to around 13.4% in 2018 and is expected to fall to 12.6% in 2019.

In the previous quarter, the unemployment rate fell by 0.8pp y/y. 

The unemployment rate for men in Albania was 12.6% in Q1, while the rate for women stood at 12.3%. 

Albania's jobless rate for the 15-64 age band was 13% in Q1, down from 14.6% a year earlier.

The rate for young people (in the 15-29 age band) went down by 2.1pp y/y to 24.5% in the period under review, data from the Institute of Statistics' labour force survey indicated.

The rate for the 30-64 age band stood at 9.2%, down by 2pp y/y.

In the first quarter, the employment rate was 51.9% compared to 49.2% in the same period last year.

The labour force participation rate was 59.3%, compared to 57.3% a year earlier.