Economic growth is not mirrored by employment data

TIRANA, May. 15 – Contradictory data for unemployment levels in Albania have put in doubt the optimism reflected by the growth rate. Coupled with a concern shared by both BoA and the IMF about increasing credit rates and the commercial banks’ aggressive marketing strategies, the unemployment records reflect the concern that the Albanian economy is on a dangerous path. Different data comes from the country’s governmental institutions such as the Statistics Authority INSTAT and from international bodies. Boa has explained in the yearly report that around half of labor demands are met outside legal channels contributing to the deformed labor market which has to cope with both a migrant labor force and informal economic factors.