The Republic Institute of Statistics announced today that in the fourth quarter of 2023, the number of employees was 2,870,200, and the number of unemployed was 288,200, while the employment rate for the given period was 50.5 percent, and the unemployment rate was 9.1 percent. According to data from the Labor Force Survey, in the fourth quarter of 2023, compared to the fourth quarter of the previous year, there was a decrease in the population outside the labor force.
In the fourth quarter, the number of employees was 2,870,200, which represents an increase of 52,100 compared to the same quarter of 2022.
The number of unemployed persons is lower by 3,600 persons and amounted to 288,200, which together with employed persons makes up the active population contingent of 3,158,300.
The population outside the labor force decreased by 99,400 persons, and in the observed quarter it was 2,524,000 persons outside the labor force, states the RZS and adds that the total number of residents aged 15 and over was 5,682,300, which represents a decrease in the total number by 50,900 a person.
The employment rate recorded an increase of 1.4 percentage points and recorded a value of 50.5 percent, while the unemployment rate was 9.1 percent, which represents a decrease of 0.3 percentage points compared to the fourth quarter of the previous year.
The total employment growth of 52,100 persons was recorded in both formal and informal employment.
Total formal employment increased by 32,900 and in the fourth quarter of 2023 it amounted to 2,510,700 employees.
Formal employment outside agriculture recorded an increase of 42,600 persons, while formal employment in agriculture decreased by 9,700.
The total informal employment amounted to 359,400 and on the year-on-year level it recorded an increase of 19,200, of which 14,400 represents an increase in informal employment outside agriculture, and 4,700 in agriculture, the statement added.
Industry growth
Industrial production in Serbia in January 2024 is higher by 6.9 percent compared to January 2023, and compared to the average of 2023, it is lower by 4.1 percent, the Republic Statistical Office announced today.
The current seasonally adjusted index for January 2024, compared to December 2023, shows a growth of 0.1 percent for industry as a whole, and a decrease of 1.3 percent for the processing industry.
The Institute indicates that, observed by sector, in January 2024, compared to January 2023, the following trends were recorded: the Mining sector – a decrease of 1.1 percent, the Manufacturing industry sector – an increase of 6.7 percent and the Supply sector electricity, gas, steam and air conditioning – growth of 11.7 percent.
