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Saturday, July 13, 2024

Albania’s Average Monthly Salary Rises to EUR 454; Employment Decreases by 2.6%

The average gross monthly salary for a salaried employee, during the first quarter of 2021 increased by 5.2% when compared to the same period of 2020. The average salary for Q1 of 2021 was 56,019 ALL or EUR 454.

According to INSTAT data, the highest salaries in the country are paid to lawmakers, senior state administration officials, and executive directors, with their salaries being 72.8% higher than the national average.

While laborers have the lowest wages, 38.8% lower than the national average wage.

In the private sector, the highest average gross monthly salary is held by employees of the financial and insurance sectores, 81.2% higher than the national average.

In agriculture, forestry, and fishing the average salary is 37.1% lower. Public administration and defense employees, compulsory social security, education, human health and social work activities have seen the highest increase in their average gross salary by 8.3%.

The number of employees in the country during the period January-March 2021 decreased by 2.6%, whereas 59% of the population aged 15-64 is employed.

Employment decreased by 7.8% in the agricultural sector, by 0.3% in the services sector, and increased by 1.5% in the industry sector.

Employment increased in the services and industry sectors by 4.9% and 1.1% respectively, while it decreased in the agricultural sector by 7.8%.

In the first quarter of 2021, the official unemployment rate in Albania, for the population aged 15 and over, was 11.9%.

Compared to the first quarter of 2020, the official unemployment rate increased by 0.5 percentage points, while compared to the fourth quarter of 2020, the official unemployment rate increased by 0.1 percentage points.

During the first quarter of 2021, 18.9% of the population was not able to work. They were registered as housewives, retired, or permanently disabled.

11.2% of the able-bodied population “stated that they were not looking for work because they believed that there were no jobs available”.

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