Albania’s Unemployment Rate Declines in Q1

INSTAT confirms more jobs for women, young workers, and self-employed people during the first quarter of 2016.

 The unemployment rate in Albania for the first quarter of 2016 decreased to 16.9 percent thus, reaching the lowest level since the second quarter of 2013.

This was confirmed on Monday, by the Institute of Statistics (INSAT). According to the data issued by INSTAT, this is the first time in the last three years that the unemployment rate of 15-64 years-old fell below percent. Moreover, the same data confirm another important finding related gender. Among women the unemployment rate decreased to 15.8 percent from 18.1 percent.

On the other hand, the labor market offered less opportunities to men. The male unemployment rate increased compared to the previous quarter with 0.3 percent, hence reaching the level of 17.8 percent.

Further on, positive results concerning the situation of youth labour were marked during Q1. Even though the data still confirm a high unemployment rate among young people, it saw a slight decrease of 2.2 percent compared to the last quarter of 2015.

Official figures indicate a positive trend in the labor market during Q1 and the employment opportunities increased to 54.8 percent compared to the previous quarter when it was 53.7 percent.

Moreover, INSTAT confirmed an increase in the number of employees by 5.2 percent compared to 2015 and the industry sector gave the main contribution. The number of employees in this sector increased by 15.5 percent compared to 2015. In the meantime, even the number of self-employed people increased and currently their make up 33.5 percent of the labor force in Albania.

News source/Photo Credits: INSTAT