Social Issues

Unemployment wipes 175 million ALL from state budget, 21 thousand new job-seekers

Latest update: 23/03/2021 - 20:14
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The number of people losing their jobs because of the COVID-19 pandemic is estimated to be around 40 thousand, which automatically gave rise to the number of job-seeking applicants, who reached 91 500 during the fourth trimester of 2020.

The effects of the crisis continued through to the first two months of the year, as expenses from the state’s budget for the payment of unemployment checks doubled, in rapport to the same period a year ago.  

According to the Ministry of Finances and Economy, for the period January-February of this year, 175 million ALL were spent for the unemployment reimbursements, 87 million ALL paid during the first two months of 2020 and this amount ended up being twice as high as budget forecasts, which were estimated to be around 88million ALL.

The service sector is suffering the greatest losses from unemployment rates, whereas because of a lack of further financial relief packages, the government has provided employment programs lasting 4, 8 and 12 months, by subsidizing social security contributions by up to 100 % for the entire duration, while also offering minimal wage for the first two programs.

The unemployment check for 2020 was 50% of the minimal wage in the country or 130 thousand ALL, but following a recent government verdict, this amount was doubled until the end of the pandemic.

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