Unemployment in Serbia drops by 4.7% to 13%

Unemployment in Serbia, among the workforce aged 15 and over, dropped in the fourth quarter of 2016 by 4.7% annually to 13%.

Quarterly, the unemployment rate has been reduced by 0.8%, according to the State Statistical Office. In male population, the unemployment rate stood at 13% in Q4 of 2016, while in female population it was 13.1%. South and East Serbia have recorded the highest unemployment (13.7%) while the lowest one was in Vojvodina (11.9%).

According to the Workforce Survey, in the Q4 of 2016, employment stood at 45.5% which is 1.3% lower than in the Q3. However, if we compare this to the same period in 2015, the employment rate grew by 2.8% to 42.7%.

The biggest reason why the employment rate fell in the observed period is found in the declining informal employment, primarily in agriculture due to seasonal character of agricultural works. On the other hand, formal employment grew by 24.200 workers, especially in processing industry.

The share of young people between ages 15 and 24 who are neither working nor going to school had also been reduced compared to Q4 of 2015, and it stood at 16.5%.  In the population between the ages of 15 and 29, this share stood at 21.4% which means that one fifth of this population segment is an untapped resource, both in terms of work and education.

(eKapija, 05.03.2017)

http://www.ekapija.com/website/sr/page/1687537/Nezaposlenost-u-Srbiji-pala-na-13

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