The unemployment rate in Serbia dropped to 9.7 percent in the first quarter of 2020 from 12.1 percent in the corresponding period of the previous year. The number of unemployed persons declined by 79.6 thousand, or 19.8 percent to 310.3 thousand and the number of employed rose by 66.9 thousand, or 2.4 percent to 2,877.4 thousand. Meantime, the labor force participation rate went up to 54 percent from 53.9 percent a year ago and the employment rate advanced 1.4 percent from a year earlier to 48.7 percent.
Unemployment Rate in Serbia averaged 16.24 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 9.50 percent in the third quarter of 2019. 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 June of 2020. source: Statistical Office of the Republic of Serbia
Unemployment Rate in Serbia is expected to be 14.20 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 16.80 in 12 months time. In the long-term, the Serbia Unemployment Rate is projected to trend around 13.90 percent in 2021 and 12.00 percent in 2022, according to our econometric models.