State pension fund registers 36,000 more people over the last 12 months

NEWS 07.03.2022 18:50
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Source: Pixabay/ Ilustracija

According to Croatia's state pension fund HZMO, at the end of February 2022 there were 1,572,876 insured people in the country, or 2.4 percent up year-on-year. Since everyone with a job has to be insured by law so that a portion of their gross salary gets paid into the fund, this number is interpreted as an indicator of employment - meaning that Croatia's economy has added some 36,000 jobs over the last 12 months.

According to preliminary figures released on HZMO’s website, at the end of February 2022 there were 36,629 or 2.38% more insured persons compared to 28 February 2021 and 30,548 or 1.98% more insured persons than in February 2020, when the first case of COVID-19 was registered in Croatia on February 25.

According to the HZMO, the number of insured persons at the end of February 2022 was largest in the manufacturing industry (246,750) and the wholesale and retail sector (239,152).

In retail, there were 3,953 more insured persons compared to the end of February 2021 but 704 fewer insured persons compared to February 2020. In manufacturing, at the end of February there were 4,978 more employees on the year and 2,364 more than for the same month in 2020.

The biggest increase in the number of insured persons is visible in professional, scientific and technical activities, with 5,064 more insured persons y-o-y, followed by insured persons in manufacturing and construction (+4,888). The hospitality and tourism sector registered 3,903 more insured persons y-o-y.

When observing the figures compared to two years ago, there were 10,750 more insured persons in construction, with 128,760 registered insurees at the end of February 2022. At the end of February, there were 98,839 insurees in professional, scientific and technical activities, which is an increase of 5,034 compared to two years ago while the hospitality and tourism sector registered a decrease of 3,102 from two years ago, with 86,370 insurees registered in that sector at the end of February 2022.

There was also a significant increase in the IT and communications, with 54,434 workers in this sector, up 4,352 compared with February 2021 and 6,524 more compared with February 2020, HZMO figures indicate.

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