Croatia’s unemployment rate drops to historic low of 4.6 percent
Date
11/13/2024 8:31:16 AM
(MENAFN) Croatia has reached a significant milestone in its labor market, with the unemployment rate falling to 4.6 percent, the lowest level since the country gained independence in 1991. This achievement is highlighted in a report released on Tuesday by the Croatian Employment Service, showcasing the country's strong labor market performance. The reduction in unemployment reflects the growing strength of Croatia’s economy, which has made notable strides in recent years.
As of the end of October, the number of unemployed individuals in Croatia stood at 86,269, marking a 21.5 percent decrease compared to the same period in the previous year. This reduction in unemployment is accompanied by a record high in job vacancies, with over 200,000 positions currently available across the country. The report also highlighted the significant role of foreign workers, noting that around 120,000 individuals from non-EU countries are currently employed in Croatia, helping to fill labor gaps and contribute to economic growth.
Despite these positive trends, the report also pointed to regional variations in unemployment levels. Split-Dalmatia County recorded the highest number of unemployed individuals, with 14,234 people out of work. Osijek-Baranja County followed with 11,427 unemployed, while the capital city of Zagreb had 10,298 individuals without jobs. These figures reflect the disparities in economic activity and employment opportunities across different regions of the country.
Overall, the decrease in Croatia’s unemployment rate represents a significant improvement in the country's labor market and economy. The availability of job vacancies, combined with the employment of foreign workers, suggests a robust economic recovery and ongoing growth in key sectors. However, regional differences in unemployment rates point to areas that may require targeted economic policies to further reduce joblessness across the nation.
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