Georgia’s unemployment rate drops to 11-year low
Tweet 
Share
The number of people employed in Georgia is increasing.
Official statistics from the country’s national statistics office, Geostat, revealed at the end of 2014 the unemployment rate in Georgia was 12.4 percent – the lowest it has been in 11 years.
The 2014 unemployment rate was a decline of 2.2 percent on 2013 figures, when the country experienced 14.6 percent unemployment. Since 2006 unemployment in Georgia went from 13.6 percent, peaked in 2009 at 16.9 percent and has continuously dropped each year since then.
This results show that employment has increased in Georgia. I understand the problems of those [who fit into the] 12.4 percent [unemployment category] but we have to solve all the problems step-by-step,” said Georgia’s Finance Minister Nodar Khaduri.
In terms of gender, last year 10.4 percent of women were unemployed and 14 percent of males were unemployed. These figures showed a 1.9 percent drop and 2.5 percent drop respectively.
Geostat noted the unemployment rate did not change for the 55-59 age category, while it reduced in all other groups. A sharp reduction (11.3 percent) in unemployment was seen in the 15-19 age group, however this category also showed the highest unemployment rate of all other age categories.
Unemployment remained highest in Georgia’s capital Tbilisi however this had reduced by 6.6 percent in the past year, said Geostat.
As unemployment drops, employment rises. In 2014 the country’s employment rate increased by 1.6 percent. Geostat data showed employment increased in rural areas (0.8 percent), while it was decreased in towns (0.5 percent).
Most people in Georgia were self-employed (60.2 percent of total employment figures) however trends since 2006 showed more people were being hired as employees.
Of the working-age population (aged 15-65), 66.5 percent were ‘economically active’ meaning they were employed, said Geostat. The employment rate of this group of people increased by 1.7 percent in the past year.
Meanwhile today at the first Diaspora-Profession Forum Georgia’s Prime Minister Irakli Garibashvili said Georgia "should not be a poor country”.
Our main problem is that we use our resources incorrectly. We do not see our resources, which are unique,” he said.
"Several months ago we learnt the potential of Georgia’s regions and discovered that we have huge potential that we can use.”
He believed unemployment was the main problem in Georgia and that was the reason why Georgia’s citizens who lived abroad did not return to their homeland.
The National Statistics Office of Georgia, Geostat, noted at the end of 2014, about 25 percent more women were employed in the country’s trade sector than in the same time of 2013. Female employment numbers were also higher in health and social work, real estate and education.
The Georgian business sector is on an upward trend thanks to more people getting involved in the workforce, combined with an increase in fishing, mining, agriculture and construction activities, latest statistics reveal.
The number of people living in poverty in Georgia is reducing but the country’s government must do more to tackle major social issues, says a new report released by the World Bank today.
In the first quarter of 2015 the total turnover of enterprises in Georgia reached 11 billion GEL, while the production value amounted to 5.6 billion GEL, says Georgia’s National Statistics Office (Geostat).
The European Union (EU) has launched a €1.1 million (4 million GEL) project in Georgia to get more people into the workforce.
"Raising employment and creating a number of new jobs in Georgia is one of the top priorities for our Government,” underlined Prime Minister Irakli Garibashvili at a regional conference on employment which started today in Tbilisi.
Turnover from Georgia’s business sector is increasing, reaching 13.9 billion GEL in the third quarter (Q3) of 2015.
The Government of Georgia is taking action to reduce unemployment in the country by creating more jobs, in addition to reducing tax profit in Georgia.
About 1.8 million people were employed in Georgia last year and most of them were self-employed.
The turnover earned by Georgia’s businesses is increasing and reached 12.7 billion GEL in the first quarter (Q1) of 2016.
Today Georgia’s Economy Minister Dimitry Kumsishvili announced 10 percent more people were employed in Georgia’s trade sector in the second quarter (Q2) of 2016 compared to the same period of 2015.
In 2016 the annual unemployment rate in Georgia declined by 0.2 percentage points and equalled 11.8 percent – the lowest level within the past 13 years, showed the employment and unemployment annual data of 2016 of the National Statistics Office of Georgia (Geostat).
The Government of Georgia is striving to provide opportunities for young people, reduce unemployment and promote employment.
In 2017 the annual unemployment rate in Georgia declined by 0.1 percentage points and equalled 13.9 percent, shows the employment and unemployment annual data of 2017 of the National Statistics Office of Georgia (Geostat).