Unemployment in Montenegro

Montenegro Unemployment | Economic News & Forecasts

Montenegro - Unemployment

Available indicators suggest that the economic situation remained precarious in the third quarter, following the second quarter’s sharp GDP contraction as Covid-19 containment measures hammered both domestic and external activity. Retail sales nosedived at an even more pronounced pace in the third quarter than in the second, which, coupled with a climbing unemployment rate, hints at still-abysmal household spending. Moreover, industrial production continued to contract in Q3, even though less sharply than in Q2, while the decline in merchandise exports, albeit softening from Q2, remained sizable, boding ill for private sector activity. On a more positive note, in late October the Central Bank Governor stated the country had fulfilled all conditions for a second development loan with the World Bank.

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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