The unemployment rate in Albania decreased to 12.7 percent in the three months to September of 2018 from 14.0 percent in the corresponding period of 2017. It is the lowest rate since the last quarter of 2008. The jobless rate was lower for women (12.1 percent from 12.8 percent in Q3 2017) than for men (13.1 percent from 14.8 percent), Also, the youth unemployment rate went down by 2.8 percentage points to 23.2 percent. The employment rate increased to 59.7 percent from 57.7 percent, rising by 2.6 percentage points to 67.3 percent for men and by 1.6 percentage points to 52.1 percent for women. Also, the labour force participation rate went up to 68.3 percent from 67.1 percent a year ago. In the second quarter of 2018, the unemployment rate was higher at 12.9 percent. Unemployment Rate in Albania averaged 15.06 percent from 1993 until 2018, reaching an all time high of 22.30 percent in the fourth quarter of 1993 and a record low of 12.10 percent in the fourth quarter of 1996.
Unemployment Rate in Albania is expected to be 13.00 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 12.30 in 12 months time. In the long-term, the Albania Unemployment Rate is projected to trend around 11.50 percent in 2020, according to our econometric models.