NEWS

Growth “important factor” in reducing unemployment to “historic low” - Deputy Economy Minister

The Economy Ministry cited the National Statistics Office as saying 1,284,000 individuals had been registered as employed last year, with unemployment decreasing in all age groups and both in rural and urban areas. Photo via Economy Ministry

Agenda.ge, 15 May 2023 - 21:00, Tbilisi,Georgia

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.

Tsintsadze said the high growth between 2021-2022 had been paralleled by a decrease in unemployment by about 3.4 percent in 2023 compared to the previous year, and emphasised the figure had also decreased compared to the pre-pandemic period

Tsintsadze also highlighted an increase of activity on the labour market and said it was creating new opportunities for those looking for jobs.

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Unemployment rate in Georgia decreased by 1.4 percent year-on-year in the second quarter of 2023 and equalled 16.7 percent across the country, data from the National Statistics Office of Georgia shows.