Q4 2021: unemployment down 1.4% in Georgia
The economic activity rate in the reporting period for women amounted to 40.9 percent, while for men it reached 63.1 percent; the labour force participation rate increased both for women and men by 1.4 percent and 1.1 percent respectively year-on-year. Photo: Nino Alavidze/Agenda.ge.
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Unemployment rate in Georgia has decreased by 1.4 percent in the fourth quarter of 2021 compared to the same period of last year, and amounted to 19 percent, the National Statistics Office of Georgia (Geostat) has reported.
In urban areas, the unemployment rate was reduced by 2.1 percent, while in rural areas it decreased by 0.2 percent.
Image: Geostat.
The economic activity rate, or the percentage of the country’s population that is able and willing to work regardless of labour status, has increased by 1.2 percent compared to the same period of the previous year, and totals 51.2 percent of the working-age population (aged 15 and older).
The labour force participation rate in urban settlements decreased by 0.3 percent, while in rural settlements it increased by 3.1 percent,” Geostat reports.
Employment rate in the country increased by 1.7 percent and totalled 41.5 percent. In urban areas, it was up by 0.9 percent, while in rural areas the employment rate grew by 2.7 percent.
Traditionally, the unemployment rate is higher among men than women, Geostat says.
Image: Geostat.
In the fourth quarter of 2021, compared to the corresponding period of the previous year, this indicator decreased for women by one percent, while it decreased by 1.7 percent for men,” said Geostat.
However, the economic activity rate is higher for men than for women.
The economic activity rate in the reporting period for women amounted to 40.9 percent, while for men it reached 63.1 percent; the labour force participation rate increased both for women and men by 1.4 percent and 1.1 percent respectively year-on-year.
Georgia’s real economic growth in the past year was 2.5 times higher than originally forecast, with government savings in 2022 expected to approach the pre-pandemic mark, finance minister Lasha Khutsishvili told the parliament on Thursday.
A total of 117,897 people received governmental social support package in Georgia in 2021, figures from the National Statistics Office of Georgia (Geostat) show. In the latest release of data from the agency, statistics for state financial aid to underprivileged citizens show 34.7 percent of recipients being women, with 65.3 percent men.
Fitch Ratings, a global financial ratings firm, has affirmed Georgia’s Long-Term Foreign-Currency Issuer Default Rating (IDR) status with a BB rating, also calling the country’s financial developments “broadly stable”.
The Consumer Price Index in Georgia increased by 1.1 percent in January 2022 compared to the previous month, while the annual inflation rate stood at 13.9 percent, the latest inflation data of the National Statistics Office of Georgia (Geostat) shows.
Commercial banks in Georgia loaned 42.16 billion GEL and received deposits of 36.77 billion GEL in January 2022, the National Bank of Georgia (NBG) says.
Unemployment rate in Georgia increased by 2.1 percent in 2021 compared to the previous year and reached 20.6 percent across the country, data from the National Statistics Office of Georgia shows.
The average monthly salary in Georgia went up by ₾190 ($65/€62) in the first quarter of 2022, marking a 15.1 percent growth compared to the same period of last year and totalling ₾1,446 ($495/€476), the latest data of the National Statistics Office of Georgia show.