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How did the labor market change in Europe? Where does our country rank?

2024-03-20 10:39:08Biznes SHKRUAR NGA REDAKSIA VOX

How did the labor market change in Europe? Where does our country rank?

Eurostat data show that the employment rate in our country during the fourth quarter of last year was below the European Union average, but higher than in some countries in the region or Europe. The employment rate in Albania was recorded at 66.7%, while the EU average was 70.5%. But this level of employment in Albania is better than in countries like Croatia, Spain, Greece, Serbia or Italy. For the latter, the employment rate for the last quarter of the year we left behind varies from 62% to 66.5%.

Referring to data from the European Statistics Agency, it is noted that Albania is among the countries that have recorded an increase in employment in terms of the 15-64 age group, leaving behind even the most developed countries such as Denmark, Norway, Luxembourg, etc. Specifically, in our country, the annual change in employment for the population aged 15-64 was 0.2%, the same as in Germany, Austria and Belgium.

On the other hand, the figures show that Iceland, the Netherlands and Switzerland are the countries with the highest employment rates. In Iceland, the employment indicator has reached 83.3%, in the Netherlands 82.5% and in Switzerland 80.7%. The level of employment is also satisfactory in countries such as Malta, Sweden and Germany. Specifically, the employment rate is 78.7% in Malta and 77.3% in the other two countries.

If we return to the INSTAT data regarding unemployment indicators, the figures show that during the fourth quarter of 2023 the rate decreased by 1.2 points, compared to the same quarter of 2022, but increased by 0.2 points compared to the previous quarter. For the active working age group, i.e. belonging to the age range of 15 years and older, the official unemployment rate in Albania is 10.7%.


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