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. Unemployment Rate in Serbia averaged 17.02 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 11.30 percent in the third quarter of 2018.

Unemployment Rate in Serbia is expected to be 11.30 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 11.60 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.

Serbia Unemployment Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-09-03 08:50 AM Unemployment Rate Q2 11.9% 14.8% 12.4%
2018-11-30 11:00 AM Unemployment Rate Q3 11.3% 11.9% 12.9%
2019-02-28 11:00 AM Unemployment Rate Q4 12.9% 11.3% 12.50%
2019-05-31 10:40 AM Unemployment Rate Q1 12.1% 12.9% 12.30%
2019-08-30 10:00 AM Unemployment Rate Q2 12.1% 11.3%
2019-11-29 11:00 AM Unemployment Rate Q3 11%


Serbia Labour Last Previous Highest Lowest Unit
Unemployment Rate 12.10 12.90 25.50 11.30 percent [+]
Employed Persons 2810500.00 2817400.00 2929300.00 2157618.00 [+]
Unemployed Persons 527.21 536.60 970.00 527.21 Thousand [+]
Wages 55380.00 54645.00 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 54.40 55.50 55.50 46.10 percent [+]
Labour Costs 112.26 114.97 128.07 73.30 Index Points [+]
Employment Rate 47.40 49.20 49.20 34.30 percent [+]
Youth Unemployment Rate 32.00 25.30 54.20 25.30 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. This page provides - Serbia Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Serbia Unemployment Rate - actual data, historical chart and calendar of releases - was last updated on August of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
12.10 12.90 25.50 11.30 2008 - 2019 percent Quarterly
NSA




Country Last Previous
South Africa 29.00 Jun/19
Spain 14.02 Jun/19
Turkey 12.80 May/19
Brazil 12.00 Jun/19
Argentina 10.10 Mar/19
Italy 9.70 Jun/19
France 8.50 Jun/19
Euro Area 7.50 Jun/19
India 6.00 Dec/18
Canada 5.70 Jul/19
Saudi Arabia 5.70 Mar/19
Australia 5.20 Jul/19
Indonesia 5.01 Mar/19
Russia 4.50 Jul/19
South Korea 4.00 Jul/19
United Kingdom 3.90 Jun/19
United States 3.70 Jul/19
China 3.61 Jun/19
Mexico 3.60 Jun/19
Netherlands 3.40 Jul/19
Germany 3.10 Jun/19
Japan 2.30 Jun/19
Singapore 2.20 Jun/19
Switzerland 2.10 Jul/19


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