TIRANA, November 14 – The labour market shows stable improvements. Meanwhile, the latest monetary policy report of the Bank of Albania for the fourth quarter highlights higher employment and lower unemployment.

The newest data show a 3.4% increase in non-agricultural private-sector employment. In addition, the unemployment rate has dropped to 8.5%, one of the lowest levels in recent years.

At the same time, the average wage in the private sector has increased by 9.5%. This rise strengthens consumers’ purchasing power and supports economic activity.

The Bank of Albania notes that a strong labour market has supported household consumption. In addition, this trend has guided the economy toward a stable growth path.

Looking ahead, economic growth will rely on private-sector demand for consumption and investments. Meanwhile, strong links with other sectors of the economy will continue to generate positive effects in the labour market.

“The stable financial position of households and businesses, together with favourable financing conditions, remain key factors that will continue to stimulate employment and economic activity in the coming period,” the Bank of Albania states.

/a.p./