The unemployment rate in Macedonia decreased to 19.4 percent in the fourth quarter of 2018 from 21.9 percent in the same period of the previous year. The number of unemployed persons fell by 22.7 thousand to 185.8 thousand and the number of employed rose by 26.6 thousand to 771.8 thousand. Meanwhile, the labour force participation rate increased to 56.9 percent in the three months to December from 56.8 percent and employment rate increased to 45.9 percent from 44.3 percent. In the third quarter of 2018, the jobless rate was higher at 20.8 percent. Unemployment Rate in Macedonia averaged 30.73 percent from 1993 until 2018, reaching an all time high of 38.70 percent in the first quarter of 2005 and a record low of 19.40 percent in the fourth quarter of 2018.
Unemployment Rate in Macedonia is expected to be 20.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Macedonia to stand at 18.60 in 12 months time. In the long-term, the Macedonia Unemployment Rate is projected to trend around 12.90 percent in 2020, according to our econometric models.