The unemployment rate is increasing, INSTAT: 22.5% of young people aged 15-29 do not work

Unemployment in Albania is increasing, especially among young people. According to the report of the Institute of Statistics, in the first 3 months of 2023, the official unemployment rate in our country is 10.9%, registering an increase of 0.7%, compared to the fourth quarter of 2022.

The official unemployment rate for men is 10.6% and for women 11.1%.

We see the highest number of unemployed in the 15-29 age group, where according to INSTAT, 22.5% of them are unemployed, this figure is 1.8% higher than the last 3 months of 2022.

As for the 30-64 age group, the unemployment rate is 7.8% and there is an increase of 0.2% compared to the previous quarter.

In the first quarter of 2023, the labor force participation rate for the population aged 15-64 is 75.7%.

For women, the labor force participation rate is 69.5%, while for men this indicator is 82.2%. For men, the labor force participation rate is 12.7% higher than for women.

According to experts, in this period of the year, employment in the industry sector decreased by 2.7%, it increased by 11% in the service sector and by 0.4% in the agricultural sector.

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