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5th in Europe for employment expectations, but Eurostat confirms employment decline in August

2024-09-04 11:47:22Biznes SHKRUAR NGA REDAKSIA VOX

5th in Europe for employment expectations, but Eurostat confirms employment

According to the Bank of Albania, the economic sentiment indicator increased by 1 point in August of this year. This improvement in the indicator was mainly influenced by the increase in confidence in the trade, industry and construction sectors.

On the other hand, Eurostat has published the indicator of employment expectations, this indicator is measured as a weighted average of the employment expectations of managers in four surveyed business sectors, i.e. industry, services, retail trade and construction.

"Scan Intel" has analyzed the figures to understand how Albania is presented among European countries in terms of the indicator of employment expectations in August 2024. According to the data, Albania is positioned fifth in the ranking as this indicator reaches 110.7 percentage points, i.e. 10.7 points above the historical average. This shows that the expectations for employment in our country are quite positive compared to other countries in Europe. Concretely, Albania is positioned after Bulgaria, Greece, Montenegro and Cyprus, but has left behind countries such as Spain, Croatia and Portugal.

This increase in employment expectations may be an indicator of a more favorable climate for business, an increase in job opportunities, or positive developments in key sectors of the Albanian economy.

If we focus the analysis on July-August 2024, we notice that there are significant differences. Accordingly, during one month the indicator of employment expectations had a significant increase in countries such as Malta, Greece, France, Spain and Denmark. This increase varies from 2.2% to 5.2%. Although Albania is among the countries where employment expectations are positive, in monthly terms this indicator has decreased by -0.4%.

We emphasize that in the EU this indicator increased by 0.9%, while the countries of the Balkans are ranked below the EU line as they have experienced a decrease in this indicator. Specifically, the deepest decline is presented by Croatia, followed by North Macedonia, Albania, and Montenegro. On the contrary, in Serbia this indicator has remained unchanged.


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