In the second quarter of 2023, the unemployment rate in Albania hit a new low, standing at 10.7%, marking the lowest level since the third quarter of 2022.

Data analysis reveals that men are facing more challenges in securing employment compared to women. While unemployment increased among men, it decreased among women.

According to the Institute of Statistics (INSTAT), the employment rate for the population aged 15-64 reached 67.4% in the second quarter of 2023.

During this quarter, the total number of employed individuals increased by 2.7% compared to the second quarter of 2022, with a slight 0.1% uptick compared to the first quarter of 2023.

In Albania, the official unemployment rate for individuals aged 15 and above was 10.7% in the second quarter of 2023.

The overall number of unemployed individuals dropped by 1.9% compared to the same quarter in 2022 and decreased by 0.7% compared to the previous quarter.

The labor force participation rate for the population aged 15-64 was 75.8% in the second quarter of 2023, reflecting a 3.0 percentage point increase compared to the second quarter of 2022 and a 0.1 percentage point rise from the previous quarter.

Gender-wise, women had a labor force participation rate of 70.2%, while men had a notably higher rate of 81.7%. The participation rate for men exceeded that of women by 11.5 percentage points.

Compared to the same quarter in 2022, the labor force participation rate for women increased by 4.1 percentage points, whereas for men, it increased by 1.9 percentage points.

In the second quarter of 2023, the youth (aged 15-29) labor force participation rate was 56.7%, marking a 1.4 percentage point increase compared to the second quarter of 2022 but a 1.2 percentage point decrease compared to the first quarter of 2023.

For the population aged 30-64, the labor force participation rate in the second quarter of 2023 reached 84.6%.