The unemployment rate in Serbia fell to 7.3 percent in the second quarter of 2020 from 10.3 percent in the corresponding period of the previous year. It was the lowest jobless rate since series began in 2008, as the number of inactive people rose by 153.8 thousand, or 5.7 percent to 2,831 thousand due to the coronavirus crisis. The number of unemployed persons dropped by 111.1 thousand, or 33.3 percent to 222.9 thousand and the number of employed went down by 72.3 thousand, or 2.5 percent to 2,844.2 thousand. Meantime, the labor force participation rate decreased to 52 percent from 54.8 percent a year ago and the employment rate declined to 48.2 percent from 49.2 percent in Q2 2019.
Unemployment Rate in Serbia averaged 16 percent from 2008 until 2020, reaching an all time high of 25.50 percent in the first quarter of 2012 and a record low of 7.30 percent in the second quarter of 2020. This page provides - Serbia Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Serbia Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Statistical Office of the Republic of Serbia
Unemployment Rate in Serbia is expected to be 14.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Serbia to stand at 15.10 in 12 months time. In the long-term, the Serbia Unemployment Rate is projected to trend around 13.40 percent in 2021 and 12.00 percent in 2022, according to our econometric models.