Fiscal Council: Unemployment rate drop in Serbia down to less job seeking
– The overall trends in the labor market in the second quarter were unfavorable, which is fully expected – Brcerevic said for Beta.
Serbian Finance Minister Sinisa Mali yesterday said that the unemployment rate in the second quarter of 2020 was “at an all-time low of 7.3%”.
Brcerevic said that “the number of employees is in fact lower by over 70,000, that is, 2.5%, compared to last year and this is they key indicator of where the labor market is”.
– The unemployment rate is not that relevant at the moment. The fact that it was at an all-time low of 7.3% in the second quarter does not mean much – Brcerevic said.
He explained that, by the definition used in statistics, the unemployed are only those who are actively looking for a job and can't find it.
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