The unemployment rate in Macedonia edged down to 16.1 percent in the last quarter of 2020 from 16.6 percent in the same period of the previous year. It was the lowest jobless rate since the series began in 2004, due to a large outflow of people from the labour force. The number of unemployed persons decreased by 9.3 thousand to 152 thousand, while the number of employed fell by 17.8 thousand to 790 thousand. Thus, the activity rate went down to 55.9 percent from 57.5 percent in the fourth quarter of 2019, and the employment rate dropped to 46.8 percent from 47.9 percent. source: State Statistical Office of the Republic of Macedonia
Unemployment Rate in Macedonia averaged 29.32 percent from 1993 until 2020, reaching an all time high of 38.70 percent in the first quarter of 2005 and a record low of 16.10 percent in the fourth quarter of 2020. This page provides - Macedonia Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Macedonia Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on May of 2021.
Unemployment Rate in Macedonia is expected to be 16.70 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 19.00 in 12 months time. In the long-term, the Macedonia Unemployment Rate is projected to trend around 17.00 percent in 2022 and 16.00 percent in 2023, according to our econometric models.