The unemployment rate in Serbia decreased to 9.5 percent in the third quarter of 2019 from 12.9 percent in the corresponding period of the previous year. It was the lowest jobless rate since comparable data became available in 2008. The number of unemployed persons fell by 63.4 thousand, or 17.1 percent to 308.4 thousand and the number of employed rose by 9.5 thousand, or 0.3 percent to 2.938.7 thousand. Meantime, the labor force participation rate went down to 54.8 percent from 55.5 percent a year earlier and employment rate advanced to 49.6 percent from 49.2 percent. In the second quarter, the jobless rate was higher at 10.3 percent. Unemployment Rate in Serbia averaged 16.61 percent from 2008 until 2019, reaching an all time high of 25.50 percent in the first quarter of 2012 and a record low of 9.50 percent in the third quarter of 2019. source: Statistical Office of the Republic of Serbia

Unemployment Rate in Serbia is expected to be 11.10 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 9.60 in 12 months time. In the long-term, the Serbia Unemployment Rate is projected to trend around 9.50 percent in 2020, according to our econometric models.

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Serbia Unemployment Rate

Actual Previous Highest Lowest Dates Unit Frequency
9.50 10.30 25.50 9.50 2008 - 2019 percent Quarterly
NSA



Calendar GMT Actual Previous Consensus TEForecast
2019-02-28 11:00 AM Q4 12.9% 11.3% 12.50%
2019-05-31 10:40 AM Q1 12.1% 12.9% 12.30%
2019-08-30 10:00 AM Q2 10.3% 12.1% 11.3%
2019-11-29 11:00 AM Q3 9.5% 10.3% 10%
2020-02-28 11:00 AM Q4 11.10%


News Stream
2019-08-30
Serbia Jobless Rate at Fresh Record Low of 10.3% in Q2
The unemployment rate in Serbia decreased to 10.3 percent in the second quarter of 2019 from 11.9 percent in the corresponding period of the previous year. It was the lowest jobless rate since comparable data became available in 2008. The number of unemployed persons fell by 57.6 thousand, or 14.7 percent to 334 thousand and the number of employed rose by 19.7 percent, or 0.7 percent to 2,916.5 thousand. Meantime, the labor force participation rate went down to 54.8 percent from 55.1 percent a year earlier and employment rate advanced to 49.2 percent from 48.6 percent. In the first quarter, the jobless rate was higher at 12.1 percent.

2019-05-31
Serbia Jobless Rate Falls to 12.1% in Q1
The unemployment rate in Serbia decreased to 12.1 percent in the first quarter of 2019 from 14.8 percent in the corresponding period of the previous year. The number of unemployed persons declined by 81.6 thousand, or 17.4 percent, to 387.1 thousand and the number of employed rose by 122.3 thousand, or 4.5 percent, to 2,810.5 thousand. Meantime, the labor force participation rate went up to 53.9 percent from 52.9 percent a year ago and employment rate advanced to 47.4 percent from 45.1 percent in Q1 2018. The youth unemployment rate (people age 15-24) also decreased to 14.7 percent from 17.2 percent in Q1 2018. In the fourth quarter of 2018, the jobless rate was higher at 12.9 percent.

2019-02-28
Serbia Jobless Rate Falls to 12.9% in Q4
The unemployment rate in Serbia dropped to 12.9 percent in the fourth quarter of 2018 from 14.7 percent in the corresponding period of the previous year. The number of unemployed persons declined by 59 thousand, or 12.4 percent, to 416.6 thousand and the number of employed rose by 53.8 thousand, or 1.9 percent, to 2,817 thousand. Meanwhile, the labor force participation rate went up to 54.4 percent from 54.2 percent a year ago and employment rate advanced 1.1 percent from a year earlier to 47.4 percent. In the third quarter of 2018, the jobless rate was lower at 11.3 percent.


Serbia Unemployment Rate
In Serbia, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Serbia Labour Last Previous Highest Lowest Unit
Unemployment Rate 9.50 10.30 25.50 9.50 percent [+]
Employed Persons 2938700.00 2916500.00 2938700.00 2157618.00 [+]
Unemployed Persons 500.78 500.64 970.00 500.64 Thousand [+]
Wages 55065.00 53698.00 55380.00 3821.00 RSD/Month [+]
Minimum Wages 308.04 282.51 308.04 230.14 EUR/Month [+]
Population 7.00 7.04 7.63 7.00 Million [+]
Retirement Age Women 62.00 61.50 62.00 58.00 [+]
Retirement Age Men 65.00 65.00 65.00 63.00 [+]
Labor Force Participation Rate 54.80 54.80 55.50 46.10 percent [+]
Labour Costs 103.96 106.25 128.07 73.30 points [+]
Employment Rate 49.60 49.20 49.60 34.30 percent [+]
Youth Unemployment Rate 24.40 30.70 54.20 24.40 percent [+]
Wage Growth 10.30 12.10 94.60 -8.80 percent [+]