INSTAT: Unemployment falls to the lowest level since 2008

The Institute of Statistics reported that unemployment in Albania reached the lowest level since 2008, dropping in the fourth quarter of 2017 to 13.4 percent, from 14.2 percent it was for the same period of the previous year. In absolute figures, there are about 3000 unemployed fewer.

This is the fourth consecutive quarter that unemployment declined in Albania, down from 17.3 percent at the end of 2015 to 13.4 in December 2017. Unemployment at younger ages turns out to be the main problem. Although the indicator drops to 24.6 percent, one in four young people aged 15 to 29 remain unemployed.

INSTAT says unemployment in Albania fell for the first time in 2008 levels, when the economy was plunged in crisis, thanks to employment increase in the non-agricultural private sector.

Employment grew in the services sector by 8.4 percent and the industry sector by 7.3 percent. Meanwhile, the largest agriculture sector in the country had a 1.5 percent decline in employment./Klara Ruci/var 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