The unemployment rate in Macedonia dropped to 16.2 percent in the first quarter of 2020 from 17.8 percent in the same period of the previous year. It was the lowest jobless rate since the series began in 2004, as the number of unemployed decreased by 14.7 thousand to 156,627 and the number of employed rose by 21.7 thousand to 811,106. Meantime, the activity rate went up to 57.4 percent from 57.1 percent in Q1 2019 and the employment rate also increased to 48.1 percent from 46.9 percent in the same period a year ago. In the last quarter of 2019, the jobless rate was higher at 16.6 percent.
Unemployment Rate in Macedonia averaged 29.83 percent from 1993 until 2020, reaching an all time high of 38.70 percent in the first quarter of 2005 and a record low of 16.20 percent in the first quarter of 2020. This page provides - Macedonia Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Macedonia Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020.
Unemployment Rate in Macedonia is expected to be 20.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Macedonia to stand at 21.00 in 12 months time. In the long-term, the Macedonia Unemployment Rate is projected to trend around 19.00 percent in 2021 and 17.00 percent in 2022, according to our econometric models.