Unemployment in North Macedonia

North Macedonia Unemployment | Economic News & Forecasts

North Macedonia - Unemployment

Following a robust expansion in Q2, the economic recovery likely continued in Q3, albeit at a softer pace. While industrial sector activity tumbled in the quarter, the tourist sector had a fairly strong performance and retail sales held up relatively well. On the political front, the ruling left-wing SDSM party accepted Prime Minister Zoran Zaev’s resignation in late November. The party will hold an election on 12 December to pick his successor, with Zaev remaining as caretaking prime minister. Meanwhile, in early November the government approved the 2022 draft budget, which sees the fiscal deficit reducing to 4.3% of GDP. Authorities also recently declared a 30-day state of crisis to address difficulties in power supply. Lastly, on 5 November Fitch Ratings affirmed the country’s 'BB+' rating with a negative outlook, highlighting its credible macroeconomic policies but noting downside risks associated with weak public finances.

North Macedonia - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate26.1  23.7  22.4  20.7  17.3  

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Note: Unemployment as % of active population (aop).
Source: State Statistical Office

North Macedonia Facts

Value Change Date
Exchange Rate54.86-0.56 %Jan 01
Stock Market0.10.0 %Jan 07

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