Unemployment rate in Albania
Unemployment rate in Albania declined from 11.81 % in 2022-01-01 to 11.08 % in 2023-01-01. Source: World Bank
The unemployment rate measures the percentage of the labor force that is currently unemployed but is actively seeking employment and available to work. Those who are not seeking employment, such as students or retirees, are not included.
A high unemployment rate indicates that a large proportion of the labor force is unable to find work, which can lead to reduced consumer spending, decreased production, and economic slowdown. Conversely, a low unemployment rate can indicate a strong economy with plenty of job opportunities for workers.
A high unemployment rate indicates that a large proportion of the labor force is unable to find work, which can lead to reduced consumer spending, decreased production, and economic slowdown. Conversely, a low unemployment rate can indicate a strong economy with plenty of job opportunities for workers.