The unemployment rate in Macedonia decreased to 20.8 percent in the third quarter of 2018 from 22.1 percent in the same period of the previous year. It was the lowest jobless rate since series began in 1993, as the number of unemployed persons fell by 12 thousand to 199.3 thousand and the number of employed rose by 16 thousand to 759.4 thousand. Meanwhile, the labour force participation rate increased to 57 percent from 56.8 percent and employment rate increased to 45.1 percent from 44.2 percent in the three months to September of 2017. In the second quarter of 2018, the jobless rate was higher at 21.1 percent. Unemployment Rate in Macedonia averaged 30.90 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 20.80 percent in the third 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.