5 European Countries with the Highest Unemployment Rates

1. Montenegro

Unemployment Rate: 15.3%

In January 2024, Montenegro’s unemployment rate dropped to 13.38%, down from 13.95% the previous month and significantly lower than the 16.30% recorded in January 2023. The number of unemployed decreased by 14% year-on-year to 38,014 by February’s end. In December, Montenegro had 39,942 unemployed, with the largest workforce in wholesale/retail trade (19.57%), state administration (9.34%), and construction (7.44%). Despite a monthly decline of 0.22%, the country saw an 8.5% annual increase in employment, totalling 246,449 by December. Montenegro’s budget surplus shrank 69% year-on-year in January, while its net FDI decreased by 45% in 2023. It is the European country with the highest unemployment rate. 

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