Average salary in Georgia up 21.2% in Q4
Average monthly nominal earnings in Georgia reached $687.57 in Q4 of 2022. Photo: Nino Alavidze/Agenda.ge
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Average monthly nominal earnings in Georgia increased by 21.2 percent in the fourth quarter of 2022 compared to the same period of the previous year and reached ₾1,773.7 ($687.57), the National Statistics Office of Georgia said on Friday.
The highest monthly earnings were observed in the following sectors:
- Information and communication – ₾3,672.6 ($1,423)
- Financial and insurance activities – ₾2,726.7 ($1,056)
- Construction – ₾2,535.8 ($982.69)
- Professional, scientific and technical activities – ₾2,455.1 ($951.68)
Deputy Economy Minister Vakhtang Tsintsadze said the increases in nominal monthly earnings and employment indicators were reflecting economic growth trends in the country.
The fact that the real salary increase, excluding the effect of inflation, is about 10 percent is particularly noteworthy [...] indicat[ing] the fact that the disposable income of the population and their purchasing power are increasing", Tsintsadze said.
Average earnings for women reached ₾1,411.7 ($547.24), while men earned ₾2,123.2 ($823). The statistics body said average monthly earnings of men were higher than those of women in most sectors of the economy.
In the fourth quarter of the year, earnings of hired employees in the business sector equalled ₾1,911.1 ($740.84), marking a 19.6 percent increase year-on-year. The highest monthly earnings were in the information and communication as well as arts, entertainment and recreation sectors, the Office said.
In non-business and financial sectors, average monthly earnings increased by 21.8 percent and reached ₾1,523 ($590.39). The highest earnings were observed in the financial and insurance activities.
The capital city of Tbilisi and Mtskheta-Mtianeti region of the country were the leading regions for average earnings, the figures also showed.
Managers in Georgia received the highest average monthly nominal earnings of ₾2,414.7 (about $873) in 2021, while those in low-skilled labour positions earned the lowest rate at ₾674.1 (about $243), the latest data published by the national statistics office of Georgia has shown.
The turnover received by the Georgian business sector increased by 31.5 percent (y/y) and amounted to ₾150.4 billion (about $53.25 bln) in 2021, the latest data published by the National Statistic Office of Georgia said.
A total of ₾290 million ($102mln) will be spent on increasing salary for police officers, military and security personnel in Georgia by 20 percent next year, prime minister Irakli Garibashvili said on Friday in a presentation of plans for the next year's budget at the government meeting.
Average monthly nominal earnings in Georgia increased by ₾213.3 (about $75) in the second quarter of 2022 compared to the same period of previous year, marking a 16.1 percent increase to reach ₾1.541 (about $544), the national statistics office of Georgia said on Thursday.
Georgian Deputy Economy Minister Vakhtang Tsintsadze on Monday said the country’s economic growth rate had proved an “important factor” in reducing unemployment to its “historic low” of 17.3 percent, creating new jobs and combating poverty in the country.
Unemployment rate in Georgia decreased by 1.4 percent in the first quarter of 2023 compared to the same quarter of the previous year and equalled 18 percent across the country, data from the National Statistics Office of Georgia shows.
Unemployment in Georgia was at its lowest rate in 20 years in 2022, the World Bank has said in its highlighting of statistics showing last year’s figure in the country at 11.3 percent.
Georgian Economy Minister Levan Davitashvili on Monday said the country maintained an “advanced position” in the wider region for its economic growth rate, and credited the outcome with the Government’s “prudent” macroeconomic policy.
Georgian Deputy Economy Minister Vakhtang Tsintsadze on Monday said increases in nominal monthly earnings across the country in the third quarter of 2023 were reflecting “positive” domestic economic growth trends.