Croatia's unemployment rate drops to new record low

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At the end of September, there were 1.43 million employed people in Croatia, which is 0.9 percent of almost 13,000 fewer than at the end of August. At the same time, the unemployment rate fell to a new record low of 8.4 percent, the latest data released by the state statistics bureau showed.

According to figures from the state employment bureau (HZZ), more than 130,000 jobseekers were registered with the HZZ at the end of September, a drop of about 3,500 compared to the previous month.

This means September was the eighth month in a row to see a decline in the registered unemployment rate, hitting a new record low of 8.4 percent down from 8.5 percent in August.

“This was the third year in a row that the number of registered jobless people had dropped in September after the peak tourist season, which used to be an unusual occurrence before 2015,” analysts at the Croatian Chamber Economy (HGK) said in their comment of the report.

Thousands of unemployed Croatians usually migrate to the Adriatic coast to work seasonal jobs in the tourist industry during the summer, which typically results in a larger increase of new registrations at the HZZ after they return home to northern regions of the country later in the year.

But in the past few years this seasonal spike has been decreasing.

“This is due, on the one hand, of a more dynamic economic activity, including a busier post-summer tourist season, but on the other hand negative depopulation and emigration trends,” the HGK said.

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