693,000 unemployed in Serbia

There were 693,000 unemployed in Serbia at the end of 2006, with an unemployment rate at 21.6 percent, the World Bank says.

Izvor: FoNet

Friday, 30.03.2007.

11:19

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BELGRADE There were 693,000 unemployed in Serbia at the end of 2006, with an unemployment rate at 21.6 percent, the World Bank says. The World Bank study on Serbia's emloyment trends has shown that the unemployment rate decreased by 0.2 percent last year compared to 2005. The World Bank cited insufficient private sector share in the employment market and a lack of flexible jobs or part-time employment as Serbia's main problems in the labor field. 693,000 unemployed in Serbia At the presentation of a World Bank-sponsored study on labor market performance in Serbia, one of its authors Gordon Betcherman said that Serbia must address high unemployment rates by strengthening the private sector so as to provide fresh jobs. He added that Serbia, with a 51 pecent employment rate, falls short of the EU recommended 70 percent. According to the report, women and youth in particular have had major difficulties finding employment. The employment rate for women in 2005 was estimated at 41 percent, as much as 20 percent lower than the employment rate for men in the same year, falling short of the recommended 67 percent employment mark. Betcherman added that almost half of all jobs available did not belong to the private sector, whose “share in the labor market in Serbia is still rather small.” He cited factors that affect employment, including macroeconomic stability, investment climate, labor market policy, education and qualification framework and social welfare. As for the macroeconomic surroundings, “headway has been made in the last five to six years and the general picture has improved,” Betcherman said, adding that more visible improvement exerted “complete reconstruction of companies’ organizational models.” He also said that Serbia was improving when it came to attracting foreign investments, adding that administrative issues that foreign investors face need to be tackled efficiently.

693,000 unemployed in Serbia

At the presentation of a World Bank-sponsored study on labor market performance in Serbia, one of its authors Gordon Betcherman said that Serbia must address high unemployment rates by strengthening the private sector so as to provide fresh jobs.

He added that Serbia, with a 51 pecent employment rate, falls short of the EU recommended 70 percent.

According to the report, women and youth in particular have had major difficulties finding employment.

The employment rate for women in 2005 was estimated at 41 percent, as much as 20 percent lower than the employment rate for men in the same year, falling short of the recommended 67 percent employment mark. 

Betcherman added that almost half of all jobs available did not belong to the private sector, whose “share in the labor market in Serbia is still rather small.”

He cited factors that affect employment, including macroeconomic stability, investment climate, labor market policy, education and qualification framework and social welfare.

As for the macroeconomic surroundings, “headway has been made in the last five to six years and the general picture has improved,” Betcherman said, adding that more visible improvement exerted “complete reconstruction of companies’ organizational models.”

He also said that Serbia was improving when it came to attracting foreign investments, adding that administrative issues that foreign investors face need to be tackled efficiently.

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