Major malfunctions in labor market finds its latest report State Budget Office at Parliamentas despite its significant reduction unemploymentwhose rate fell within 2024 – for the first time since the triple crisis of 2009 (financial, debt and banking) – below 10%, participation in the labor market in the third quarter of the year decreased compared to the corresponding quarter of 2023 at 60.3% from 60.4%.

And the difference may be marginally negative, but it is due to two groups that are targets for the promoted employment policies, women and young people. At the same time, job vacancies are increasing despite a significant pool of unemployed, demonstrating that the skills mismatch is exacerbating structural unemployment. The Ministry of Labour, however, in the framework of the annual planning for 2025, has included actions to reduce unemployment and cover vacant jobs, as it had done in 2024.

In particular, the participation of women in the labor market continues to lag significantly behind that of men (52.7% and 68.2% the third quarter of 2024). Correspondingly, the participation of young people aged 15-29 in the labor market decreased slightly in the last year (from 44.9% in the third quarter of 2023 in 43.4% the third quarter of 2024).

Overall, however, although significantly below pre-crisis levels, employment in 2024 increased. The total number of employees in the third quarter of 2024 amounted to 4.25 million persons, number increased by 67,000 people compared to Q3 2023. In fact, most of the increase comes from full-time jobs.

Notably, according to the new action plan of the Ministry of Labor for 2025, posted on Christmas Eve, the planning for the next year includes, among other things, actions to strengthen equality in the labor market between men and women, a new strategy for employment, as well as interventions in passive employment policies alongside a new framework for seasonal work.