The Unemployment rate of Algeria attained a value of 11.87 % in 2023
The indicator recorded a historical change (bps difference) of 280 bps between 2020 to 2023, and is expected to decline by...
GlobalData projects the figure to change by 24 bps between 2024 and 2028, reaching...
Unemployment
Unemployment is a term used to describe people who are actively looking for work but are unable to find one. The unemployment rate is derived by dividing the total number of unemployed persons by the total number of people in a certain region or workforce. It is one of the most important markers of a country's economic health.
Global Unemployment
As per the International Labour Organization, the average regional unemployment rate at the end of 2021 has been estimated at 9.6%, which represents an improvement from the 10.6% it reached in 2020, but a setback compared to the 8% that was recorded for 2019, which in this case is used as a reference to calculate the impact of two years of the pandemic.
According to the Organization for Economic Cooperation and Development (OECD), April 2022 published its February 2022 unemployment figures: the unemployment rate in the OECD areas dropped below the pre-pandemic rate. This is the lowest level since the start of this data series in 2001. The number of unemployed workers in the OECD area also continued to fall, reaching 34.9 million, 0.7 million below its pre-pandemic level.
Unemployment Rate of Algeria
The unemployment rate in Algeria in 2021 stood at 14.0%. Between 2018-2021, the unemployment rate in Algeria was highest in 2021 at 14.0% and lowest in 2019 at 11.4%. The unemployment rate increased by 0.8% on a year-on-year basis in 2021 and increased by 20.4% between 2018-2021.
In 2018, the unemployment rate remained stable at 11.7%. The IMF suggested that Algeria needs to ensure diversified and sustainable investment-led growth to reduce youth unemployment and provide opportunities for all. The unemployment rate declined slightly to 11.4% in 2019. However, it increased to 14% in 2020 and further to 14% in 2021. In 2022, the unemployment rate is forecast to rise to 14.2%. The country is projected to witness an annual average unemployment rate of 13.6% during 2023–26.
In February 2022, the country introduced a monthly unemployment grant of $92 to people aged 19–40, which aims to curb potential social instability.
Factors that Cause Unemployment
Recession, government policies, geographical labor mobility, technological advancements, global economy, expanding population, and education, training, and skill development of workers are some of the primary elements that influence unemployment in a country.
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