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Voxpress:

Employment increases in the service sector, but youth unemployment remains a concern

2024-03-12 12:48:20Biznes SHKRUAR NGA REDAKSIA VOX

Employment increases in the service sector, but youth unemployment remains a

Employment indicators showed a slight increase during the last quarter of last year, according to INSTAT data. In the fourth quarter of 2023, the employment rate for the population aged 15-64 is 66.7%, or 0.2 percentage points higher, compared to the same quarter a year ago, but it has decreased by 1 percentage point, compared to the previous quarter.

Regarding the unemployment indicator during the fourth quarter of 2023, the rate decreased by 1.2 percentage points, compared to the same quarter of 2022, but increased by 0.2 points, compared to the previous quarter.

"Scan Intel" has processed the data to understand the engagement of young people in the labor market. According to the figures, the official unemployment rate for the 15-29 age group is 22%, marking an increase of 0.6 percentage points, compared to the same period a year ago. The unemployment rate for the 30-64 age group followed the same trend, increasing by 0.3 percentage points.

Compared to the same quarter of a year ago, employment has increased only in the services sector, allowing us to understand the positive impact that tourism has had on employment. This indicator has been increasing for all quarters of the last year.

Meanwhile, the employment rate has decreased in the agricultural and industrial sectors during the last quarter of 2023. In concrete terms, we say that employment decreased by 2% in the agricultural sector and by 0.1% in the industrial sector, while increases by 2.8% in the services sector.


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