Nearly 540,000 people in Bosnia and Herzegovina are looking for a job which means that the country with the population of 3.8 million has the unemployment rate of 42.9%, according to figures released by the Bosnian Employment Agency on Friday.
Although these figures sound dramatic, it is estimated that the real unemployment in Bosnia is at approximately 27%, given that many people registered with the Employment Agency are in fact engaged in undeclared work.
Taking into consideration the widespread grey economy in Bosnia and Herzegovina, this is the unemployment rate that financial institutions such as the International Monetary Fund or the World Bank are stating in their analyses.
According to the latest available figures, a total of 539,098 persons were jobless in Bosnia at the end of January.
A total of 51% of all the unemployed were women.
According to the Employment Agency 715,000 people in Bosnia had jobs in late 2015.