Unemployment in Montenegro

Montenegro Unemployment | Economic News & Forecasts

Montenegro - Unemployment

Available data from Q1 points to strong growth. There was surge in exports and tourist arrivals in the period, by the end of Covid-19 restrictions throughout Europe. Moreover, real wages grew rapidly—likely thanks to the minimum wage hike to EUR 450 from 1 January—unemployment decreased steadily and retail sales boomed, boding well for household consumption. Turning to Q2, tourism sector data is positive: April showed soaring arrivals compared to 2021, and the national airway company is adding additional flights to further boost visitor numbers. That said, soaring inflation in the wake of the Ukraine war could be limiting spending. Meanwhile, a coalition government of pro-EU and pro-Serb forces recently took office after three months of political impasse. While the formation of a government bodes well for economic stability, the new administration will have difficulty achieving structural reforms.

Montenegro - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate17.2  21.3  22.1  17.8  16.2  

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Montenegro Unemployment Chart

Montenegro Unemployment
Note: Unemployment as % of active population (aop).
Source: Employment Agency of Montenegro

Montenegro Facts

Value Change Date
Exchange Rate1.120.65 %Dec 31

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