Q1 Unemployment Rate Hits Lowest Level in 30 Years

Q1 Unemployment Rate Hits Lowest Level in 30 Years

TIRANA, June 11

The Institute of Statistics (INSTAT) confirmed on Monday that the unemployment rate during the first quarter of 2018 dropped to 12.5 percent, the lowest in 30 years. Based on INSTAT’s data, the unemployment rate in March marked a 1.7 percentage point decline compared to March 2017.
At the end of the first quarter of 2018, the number of employed persons in Albania was 1,127,000. Most of them are working in the private and agriculture sectors. Compared to the first quarter of 2017 the number of employed persons increased by 4.9 percent.
The unemployment rate in Albania reached the highest level of 18.2 percent during the first quarter of 2014, but it started to decline by the end of 2015. The number of employed persons during the last three years was affected by the formalization of the formalization of the informal sector. Another feature noticed was the fact that despite the hike in the employment rate, wage rates remain at the same level.

News Source: INSTAT, TCh


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