63
Serbia
Q4 2021
Total Labor Force (000s)
3,183
Employed Workers (000s) 2,830
Unemployed Workers (000s) 353
Unemployment Rate 11.1%
2,916
2,936
2,843
2,921
2,830
Q4 2019 Q2 2020 Q4 2020 Q2 2021 Q4 2021
10.3%
9.7%
7.3%
9.9%
11.1%
Q4 2019 Q2 2020 Q4 2020 Q2 2021 Q4 2021
47% - First Vaccine Dose
(December 2021)
Covid Update
Medical workers who
have not been vaccinated
must have a regular Covid
test to enable them to
work.
Covid certificates are
required for access to
hospitality venues..
17%
15%
20%
0%
25%
50%
75%
Employer Tax Profit Tax VAT
Serbia Regional Average
Other Cost Considerations - Tax
Indicative Wages (USD)
$637
$644
$2.40
$0
$5
$10
$15
$0
$2,500
$5,000
$7,500
Average Wage Manufacturing
Wage
Minimum Wage
Serbia Regional Average
30%
31%
30%
30%
28%
11%
11%
11%
12% 12%
53%
54%
54%
55%
54%
0%
20%
40%
60%
2016 2017 2018 2019 2020
15-24
years 65+ years Total
Labor Force Participation Rate by Selected Age Group
Year on year wage inflation in August '21 was 10.5%.
In June '21, there were over 101K open job vacancies.
Working Population (in Thousands) Over Time
Unemployment Rate Over Time
Labor Force Statistics
ILOSTAT
Monthly Hourly
Key Sources:
https://wageindicator.org/
https://ilostat.ilo.org/
https://www.worldbank.org/
https://tradingeconomics.com/
https://home.kpmg/xx/en/home.html
https://taxsummaries.pwc.com/
https://ec.europa.eu/eurostat
https://www.stat.gov.rs/en-us/
