news 19 Dec 12

One Third of Adult Serbs Now Unemployed

Newly released figures show that almost a third of working age Serbians are unemployed, while one economist warns the situation may not improve in the coming year. 

Belgrade

As many as 172,422 people lost their jobs in Serbia in 2012, data from the National Employment Agency, NSZ, data has shown.

The official figure does not reflect those individuals who lost their jobs but did not register at the NSZ, which pushes the actual number of unemployed even higher. There are 2.8 million people of working age in Serbia, a country of about seven million.

According to the survey, those working in the construction, textile, metal and hospitality industries have been the hardest hit by the job losses.

As many as 4,267 people with university diplomas lost their jobs, the statistics show. 

Prior to 2012, the country already had 755,442 unemployed individuals; with the addition of the 2012 figures, one-third of the total working age population is now jobless.

Mladjan Dinkic, Serbia's Finance Minister, said on Tuesday that the government will increase living standards and stop the rise in unemployment by stablizing public finances, increasing exports and attracting more foreign investments.

But Milan Kovacevic, an expert in foreign investment, said he had doubts that unemployment would decline next year under the current economic policy.

"The government has stabilized public finances by increasing taxes so we have a situation in which the economy could be even worse off next year," Kovacevic said, adding that no major foreign investments were in sight.

Kovacevic predicts that unemployment will continue to grow until the government implements systemic reforms of the economy, such as development of the real sector of the economy producing for the market and a rapid re-industrialization.

In the region, the situation is worse only in Bosnia and Herzegovina, where nearly half the population is unemployed, and in Macedonia, where the unemployment rate has long exceeded 31 per cent.

Talk about it!

blog comments powered by Disqus

Premium Selection

politics-keeps-water-toxic-across-vojvodina-06-28-2016
28 Jun 16

Politics Keeps Water Toxic Across Vojvodina

The summer heat is creating new worries in Serbia's northern province of Vojvodina, where political quarrels are blocking a badly needed overhaul of sometimes toxic water supply systems. 

black-sea-flotilla-fiasco-worsens-region-s-tensions-06-27-2016
28 Jun 16

Black Sea Flotilla Fiasco Worsens Region’s Tensions

Bulgaria’s refusal to join Romania, Turkey and Ukraine in a Black Sea naval patrol has created new tensions in the region and has raised sensitive questions about their security priorities.

22 Jun 16

Balkan Countries Brace for British Vote on EU

22 Jun 16

Census Bombshell adds to Bosnia's EU Woes

Latest News from the Balkans

28 Jun 16

Bosnian Army Commander Oric Trial Stopped

28 Jun 16

Macedonian Protesters Predict 'Hot' Summer

28 Jun 16

Kosovo Customs Earnings Rise Despite SAA

28 Jun 16

Bosnians Shocked as Mujica Accepts RS Award

28 Jun 16

Serbia Ponders Brexit's Impact on Economy

27 Jun 16

Croatia, Britain, Stop Serbia Opening Chapter

27 Jun 16

Ustasa Pier Makes Waves in Small Croatian Town