Unemployment Rate Evolution in Albania from 1990 to 2021

Albania’s unemployment rate saw significant shifts from 1990 to 2021, influenced by economic transition and instability. The rate spiked to 26.5% in 1992 as the country moved from a centralized to a market economy, causing widespread job displacement. Recovery efforts in the late 1990s saw fluctuations, with unemployment remaining high, around 18%, due to economic challenges. A major drop occurred in 2002, reflecting an increase in informal employment. Subsequent years showed gradual improvement, with the rate stabilizing around 11.5% by 2021. Albania’s economy remains vulnerable to structural challenges, with a need for further job creation in formal sectors.