Average salaries in Georgia increases by 15.5% to 1,328 GEL in Q2 2021
Financial and insurance activities is the field where the highest monthly earnings were observed in the Q2 2021. Photo: Nino Alavidze/Agenda.ge.
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Average monthly nominal earnings in Georgia increased by 177.9 GEL (15.5%) in the second quarter of 2021 compared to the same quarter of the previous year and amounted to 1,328 GEL (about $428.39/€362.20), reports the National Statistics Office of Georgia (Geostat).
Georgian Economy Minister Natia Turnava said that following the recovery of the economy, the salaries of employees in a number of sectors have improved.
This is very important and in fact this is inevitable when the economy is getting healthier. We do our best to make it inclusive and to have a greater impact on the well-being of each family", said Turnava.
The highest monthly earnings were observed in the following fields:
- Financial and insurance activities – 2,354.7 GEL (+15.4% y/y)
- Information and communication – 2,173 GEL (+12.4%)
- Construction – 2,006.1 GEL (+23.7%)
- Professional, scientific and technical activities – 1,919.5 GEL (+7.4%)
The average earnings for women reached 1,077.8 GEL (about $347.68/€293.96), while men earned 1,560 GEL (about $503.23/€425.47) per month.
The annual growth of earnings for women amounted to 153.6 GEL, and 207.6 GEL for men.
In the majority of sectors of the economy the average monthly earnings of men were higher compared to women", said Geostat.
The average monthly earnings of hired employees in the business sector increased by 214 GEL and equalled to 1,389.6 GEL.
The highest monthly earnings were observed in:
- Information and communication activities - 2,209.4 GEL (+12%)
- Professional, scientific and technical activities - 2,177.4 GEL (+6.5%)
The average monthly earnings of employees in the non-business and financial sector increased by 117.8 GEL and amounted to 1,226.6 GEL. The highest monthly earnings were observed in the financial and insurance activities.
The increased unemployment rate in the second quarter of 2021 is related to coronavirus restrictions imposed in the same period of last year, Georgian Economy Minister Natia Turnava has stated today.
Georgian Prime Minister Irakli Garibashvili has announced at today's government meeting that starting January 2022, 'we will gradually increase the salaries of public servants', while the salaries of the mayors are planned to be doubled.
Average monthly nominal earnings in Georgia increased by 53.5 GEL (4.4%) in the first quarter of 2021 compared to the same period of the previous year and amounted to 1,256.2 GEL (about $397.53/€327.83), reports the National Statistics Office of Georgia (Geostat).
The average monthly income (cash and non-cash inflows) of the Georgian population amounted to 1,194.6 billion GEL in 2020, which is 4.5% less compared to 2019, says the National Statistic Office of Georgia (Geostat).
As a result of the measures taken by the National Bank of Georgia (NBG) aimed at ensuring the stability of the financial system as a whole in Georgia, the financial sector has passed the particularly severe phase of the shock caused by the Covid-19 pandemic 'quite successfully', says the NBG in its recent report.