Number of registered unemployed drops by 10.3% y/y in Serbia

The number of registered unemployed people declined by 0.2% m/m and 10.3% y/y to 624,518 in February, according to a report of the National Employment Service (NSZ). The number of newly registered jobless people was down by 12.2% y/y to 30,262. Out of the total number of unemployed, 68.5% were without a job for more than a year and their number fell by 0.3% m/m. The number of unemployed youths was also down by 1.1% m/m. Job vacancies decreased by 14.8% y/y to 5,073.

The LFS-based unemployment rate increased by 1.8pps q/q to 14.7% in Q4, according to earlier data by the Serbian statistical office. The informal employment rate, which measures the share of persons employed in the grey economy, also fell to 19.8% in Q4 from 21.8% in Q3.

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