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Labor market suffers, but a quarter of 15-29 year olds are neither in work nor in school

2024-07-16 11:18:58Biznes SHKRUAR NGA REDAKSIA VOX

Labor market suffers, but a quarter of 15-29 year olds are neither in work nor

The labor market showed high demand for employees in the last two years, but still a quarter of young people aged 15-29 are neither in work nor in school.

The official data of INSTAT show that last year 24.6% of young people aged 15-29 were wasting their time because they were neither working nor going to school, or following any training. The indicator remained high even in 2023 with a decrease of 0.6 percentage points compared to 2022, at a time when businesses are considering the lack of employees as the main concern for the progress of activities.

Grouped by educational level, young people with secondary education have a high level of disengagement. The data show that 28.6% of young people up to 29 years old with high school education were not working, nor were they pursuing any other level of education and training. In 2023, the percentage of young people with secondary education neither at work nor at school increased further by 1 percentage point.

Also, young people with 8-9 years of education who are not engaged in anything increased in 2023. Young people at this level of education, who are neither at work nor in school, were 22.9% from the 21.9% we were in 2022.

The indicator of "laziness" seems to have marked a strong improvement among young people up to 29 years old with higher education, who in 2023 comprised 21.2% from 27% in 2022.

Among the total number of young people aged 15-29 neither at work nor at school (24.6%), about 49.4% of them are unemployed. The rest are out of the labor market because they are discouraged (2.0%), fulfilling family duties and responsibilities (13.4%), or for other reasons (35.3%).

Analyzing young people who are not employed, are not attending school or vocational training according to their gender and status in the labor market, it is noted that men are more active in the market than women (60.9% of men are looking for of a job and ready to work, while among women this percentage is 39.0%).

During the year 2023, the number of unemployed in Albania is 158,801 people. The official unemployment rate is 10.7% and decreased by 0.2 percentage points compared to 2022. The official unemployment rate for men is 10.5% and for women it is 10.9%. The unemployment rate for the 15-24 age group is very high at 25.6%. Compared to the previous year, the unemployment rate for this age group increased by 0.7 percentage points.

Unemployed persons, for one year or more, make up 71.2% of the total unemployed. Compared to the previous year, the share of the long-term unemployed in total unemployment has increased by 4.3 percentage points. Analyzing the unemployment rate, according to educational level in 2023, it is noted that the unemployment rate is higher for people with secondary education (12.7%), followed by those with 8-9 years of education (9.6 %).

 


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