According to data published today by the Croatian Bureau of Statistics, the unemployment rate in Croatia jumped in January from 16.7 to 17.7 percent. This is the highest level since early 2006 and more than expected.
Six macroeconomists who participated in a Hina survey expected, on average, an increase in the unemployment rate to 17.3 percent. "Although higher than expected, this jump in the unemployment rate is not a big surprise, given last week’s data from the Croatian Employment Service that 18,000 jobs were lost in January, and the number of unemployed exceeded 309,000," says Ante Babić, director of the Center for International Development. The unemployment rate of 17.7 percent is the highest since March 2006, when it was 18.1 percent, and the number of unemployed at that time was around 311,000.
"Somewhere until May, unemployment will continue to rise, so the number of unemployed could reach around 320 to 330 thousand, and then seasonal employment in tourism and agriculture will begin. However, as new jobs are not being created, with the end of seasonal employment, I expect that from September or October, unemployment will rise again, but somewhat slower than at the beginning of this year as some export companies will start to recover. By the end of the year, the unemployment rate could reach between 19 and 20 percent, and the number of unemployed between 340 and 350 thousand," concludes Ante Babić.(H)
