TIRANA, Sept 29 /ATA/ The labor market has shown positive developments even during the first half of 2022, the Bank of Albania announced in the Report on Financial Stability published on Thursday.
According to BoA, employment increased by 3.4% in annual terms, causing the unemployment rate to drop to 11.3% from 11.9% a year ago.
Unemployment among young people (15-29 years old) fell to 20.7% or by 2.6 percentage points, compared to the level of the first 6 months of 2021, remaining below the average values of the last four years.
Employment growth during the period in the industrial sector (8%), in the agricultural sector (3%) and in the services sector (2%) supported the recovery of the labor market.
At the same time, wages have also increased
During the first 3 months of 2022, wage raise continued to accelerate to 5.8% in annual terms, with an overall contribution from the private sector (11%).
Within the private sector, wages increased in almost all sectors, but the highest raised was reported by service sector businesses.
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