Number of unemployed in Bosnia up 3.1% y/y at end-Feb.

By bne IntelliNews April 26, 2012

The number of registered unemployed people in Bosnia increased by 3.1% on the year and by 0.4% on the month to 543,641 at the end of February, the countrys statistics office said in a statement. The office did not say to what jobless rate this figure corresponds. The number of unemployed people rose 0.9% on the month in January after climbing a monthly 0.8% in December. The number of people in paid employment totalled 687,138 at the end of February, down from 689,119 a month earlier. Out of end-Februarys total registered in paid employment 281,671 were women. Earlier this month, the governments Directorate for Economic Planning said in its 2012-2015 outlook report that Bosnias unemployment rate could rise to 44% this year because of the lower economic growth, scarce amount of investment and subdued industrial output. Similar to the previous two years, the sectors of manufacturing industry, construction, hotel and restaurants and trade would be the most exposed ones to the shrinking number of employees in 2012. This way the number of employed persons in Bosnia could decline 1.2% this year and the citizens purchasing power would remain weak. The Directorate sees the labour market stabilising to some extend in 2013, when there would be no significant rise in employment but less people are expected to lose their jobs. A more visible recovery is projected for 2014 and 2015 when the Bosnian economy is expected to improve in line with the global one.

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