Half a million in Bosnia out of work, jobless rate exceeds 42 pct

Nearly 540,000 people in Bosnia and Herzegovina are looking for a job which means that the country with the population of 3.8 million has the unemployment rate of 42.9%, according to figures released by the Bosnian Employment Agency on Friday.

Although these figures sound dramatic, it is estimated that the real unemployment in Bosnia is at approximately 27%, given that many people registered with the Employment Agency are in fact engaged in undeclared work.

Taking into consideration the widespread grey economy in Bosnia and Herzegovina, this is the unemployment rate that financial institutions such as the International Monetary Fund or the World Bank are stating in their analyses.

According to the latest available figures, a total of 539,098 persons were jobless in Bosnia at the end of January.

A total of 51% of all the unemployed were women.

According to the Employment Agency 715,000 people in Bosnia had jobs in late 2015.

Last update: Fri, 04/03/2016 - 12:00

More from Balkan

Serbia and Slovenia to hold joint govt meeting

A joint meeting of the governments of Serbia and Slovenia is scheduled for Monday in Belgrade, says a a press...

800 victims from Huda Jama mass grave to be reburied in Maribor

Remains of about 800 victims unearthed from the disused Slovenian mine of Huda Jama, one of the largest multiple...

Slovenia erecting panel fence along Croatia border

Slovenia started putting up a metal panel fence at its biggest border crossing with Croatia, Bregana-Obrezje, on...

Dodik to abandon EU path if Bosnian Serb entity sanctioned for referendum

The President of Bosnia and Herzegovina's Serb entity Republika Srpska, Milorad Dodik, on Friday threatened that the...

Serbia will not increase accommodation capacity for migrants

Serbia has been given additional funds by the European Union to manage the migrant crisis during the winter, but it...