economy-growth-employment – Albanian  Telegraphic  Agency. https://en.ata.gov.al News Agency Wed, 26 Mar 2025 21:20:51 +0000 en-US hourly 1 Sejko: Economic growth remains robust, with employment rising by 1.8% and private sector wages increasing by 9.5% https://en.ata.gov.al/2025/03/26/sejko-economic-growth-remains-robust-with-employment-rising-by-1-8-and-private-sector-wages-increasing-by-9-5/ https://en.ata.gov.al/2025/03/26/sejko-economic-growth-remains-robust-with-employment-rising-by-1-8-and-private-sector-wages-increasing-by-9-5/#respond Wed, 26 Mar 2025 21:04:34 +0000 https://en.ata.gov.al/?p=259663 TIRANA, March 26 /ATA/ On Wednesday, the Governor of the Bank of Albania, Gent Sejko, stated that “economic growth remains robust, with employment in the fourth quarter marking an annual increase of 1.8%, while wages in the private sector grew by 9.5%.”

In the press conference, the Governor highlighted that, “the expansion of economic activity has been underpinned by the increase in consumption, investments, and the growth of service exports, while fiscal policy is geared towards consolidation.”
According to him, this trend is reflected in the expansion of the services and construction sectors, while the dynamics of the industry and agriculture sectors are weaker.

Sejko highlighted that economic growth has been accompanied by an increase in employment, a decline in the unemployment rate, and continued wage raise in the private sector.

“According to data from INSTAT, employment in the fourth quarter recorded an annual increase of 1.8%, while wages in the private sector rose by 9.5%. At the same time, the average unemployment rate for 2024 decreased to 8.5%, compared to the 9.5% level recorded in 2023,” said the Governor.

He emphasized that the increase in employment and wages helps expand household income, but it also leads to higher labor costs and consumer prices.
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