A rise in the jobless rate in Croatia was not as sharp as had been feared, it has been revealed.

This is according to the Croatian Times, which reports the figure is indicative of a slowdown in unemployment in the country.

Latest figures from the Croatian Employment Service (HZZ) show 1,000 people lost their jobs in March, bringing the jobless total to 318,600.

Currently at a five-year high, the unemployment rate was pushed up by 8,000 in February and by 18,000 in January, however the pace of losses appears to be declining.

"In normal circumstances employment usually grows in these months, but considering the negative recession trends, this year we are seeing a slowdown in unemployment," Raiffeisen Consulting's Economic Research Department head Zrinka Zivkovic-Matijevic told the news source.

He added he believes the "climax" of falling labor numbers is approaching.

Croatia is a multi-party parliamentary republic with a population of over 4.4 million people and lies on the Adriatic coast.