The unemployment rate in Albania increased to 12.5 percent in the second quarter of 2020 from 12 percent in the corresponding period of the previous year, as the coronavirus pandemic hit the labour market. The employment rate dropped to 59.6 percent from 61.4 percent in Q2 2019; and the labour force participation rate declined to 68.1 percent from 69.8 percent a year ago. Meantime, the youth unemployment rate, measuring job-seekers aged 15-29 years, went up to 21.4 percent from 20.9 percent a year earlier. source: Instituti i Statistikave (INSTAT)
Unemployment Rate in Albania averaged 14.85 percent from 1993 until 2020, reaching an all time high of 22.30 percent in the fourth quarter of 1993 and a record low of 11.60 percent in the fourth quarter of 2019. This page provides - Albania Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Albania Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2020.
Unemployment Rate in Albania is expected to be 14.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Albania to stand at 14.60 in 12 months time. In the long-term, the Albania Unemployment Rate is projected to trend around 13.80 percent in 2021 and 12.10 percent in 2022, according to our econometric models.