The unemployment rate in Macedonia decreased to 17.1 percent in the third quarter 2019 from 17.5 percent in the previous period. It was the lowest jobless rate since series began in 2004, as the number of unemployed persons fell by 3,478 to 164,702 while employment rose by 5,263 to 799,546. Meantime, the labour force participation rate went up to 57.2 percent from 57.1 percent and employment rate increased to 47.4 percent from 47.1 percent. Unemployment Rate in Macedonia averaged 30.20 percent from 1993 until 2019, reaching an all time high of 38.70 percent in the first quarter of 2005 and a record low of 17.10 percent in the third quarter of 2019.
Unemployment Rate in Macedonia is expected to be 17.00 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 16.20 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.