There were slightly fewer than 1.45 million workers in Croatia in July this year, which was more than 16,400, or 1.1 percent, more than in the previous month, while the national registered unemployment rate fell to a new record llow of 8.6 percent, report released by the state statistics bureau.

The latest figures show that in July the registered unemployment rate recorded a further decrease to its historical low, from 8.8 percent in June to 8.6 percent in July. The unemployment rate in May this year was 9.2 percent.

Raiffeisenbank Austria (RBA) analysts said July was the sixth month running to see a record decline in unemployment levels, which, they said, was in line with their expectations and seasonal trends in the labour market.

The latest drop in unemployment, with a total of more than 136,000 people out of work, represents a month-on-month drop of 1.6 percent, and a year-on-year drop of 19.9 percent.

“Even though the figures showing a further unemployment decline are encouraging, the decline is primarily owing to seasonal trends, which are stronger and longer due to this year’s longer tourist season. The drop in unemployment is not accompanied by an increase in employment, and the lasting structural problems of the Croatian economy – such as the imbalance between labour offer and supply, and the low level of employment, continue to be deeply rooted and weigh heavily on the national economy,” the analysts said.

The number of employed in July was slightly under 1.45 million, or 1.1 percent more than in June.

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