In the third quarter of this year, the number of unemployed individuals in Montenegro decreased by 1.9% compared to the previous quarter.
According to the results of the Labor Force Survey, conducted in the third quarter and published by Monstat, the unemployment rate dropped by 9.4% compared to the same period last year.
A total of 1,750 households across Montenegro were surveyed, gathering demographic data for all household members (4,348 individuals) and work-related data for people aged 15 to 89 (3,848 individuals).
In the third quarter of 2024, the active population in Montenegro was 323.2 thousand, of which 287.6 thousand (89.0%) were employed and 35.6 thousand (11.0%) were unemployed. Compared to the previous quarter, the number of employed individuals increased by 1.4%, while compared to the same quarter last year, it decreased by 2.2%. The number of unemployed individuals decreased by 1.9% compared to the previous quarter, and by 9.4% compared to the same period last year, as per Monstat’s data.
The population outside the workforce, aged 15 to 89, consists of 176.8 thousand individuals.
The number of people outside the labor force decreased by 1.7% compared to the previous quarter but grew by 5.9% compared to the same period last year. For the 15-89 age group, the activity rate in the third quarter was 64.6%, the employment rate was 57.5%, the unemployment rate was 11%, and the rate of people outside the labor force was 35.4%, Monstat concluded.
