April Sees 1.2% Fewer Jobless YOY

At the end of April 2021, 148,744 persons were registered with the Croatian Employment Service, down 4.4% on the month and 6.6% on the year. The registered unemployment rate for April was 8.9%, the lowest since September 2020.

Raiffeisen Bank analysts say that is a direct consequence of the decrease in the number of persons registered as jobless and the simultaneous increase in the active population (1,675,699).

The expected recovery of economic activity will have a limited positive effect on employment indicators given that the government mitigated with a set of measures the unfavourable trends on the labour market during the strong economic downturn last year and at the beginning of this year, the analysts say.

Therefore we expect a mild drop in registered unemployment to below 9% this year, while the survey unemployment rate could drop to 7%, they add.

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