Unemployment rate down 1.4% in Q1, Georgian statistics office says
Geostat said the number of hired employed had increased by 5.6 percent and reached 863,500 individuals, while the number of self-employed had increased by 6.6 percent and equalled 407,700. Photo: Nino Alavidze/Agenda.ge
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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.
Geostat said the number of hired employed had increased by 5.6 percent and reached 863,500 individuals, while the number of self-employed had increased by 6.6 percent and equalled 407,700.
In the same period, the number of unemployed decreased by 3.6 percent and equalled 279,200", Geostat said.
The share of the labour force in the total population aged 15 and older increased by 2.1 percentage points year-on-year and became 52 percent, while the employment rate increased by 2.4 percentage points and amounted to 42.6 percent.
The labour force participation rate in urban settlements increased by one percentage points, while it increased by 3.2 percentage points in rural settlements compared to the previous year. The employment rate increased in urban settlements (by 1.2 percentage points) as well as in rural areas (by 3.8 percentage points) and equalled 43.5 and 41.3 percent, respectively", Geostat said.
The share of hired employees among employed individuals was 67.9 percent, 0.2 percentage points lower than the previous year`s corresponding period, according to the Office.
In Q1, the unemployment rate decreased in urban (by 0.8 percentage points) as well as in rural settlements (by 2.4 percentage points).
The body also said the unemployment rate was "traditionally higher for men than for women", with the labour force participation rate higher for men than women.
This indicator decreased for women by 1.7 percentage points, while it decreased by 1.1 percentage points for men and equaled 15.1 and 20.3 percent, respectively", Geostat said.
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”, creating new jobs and combating poverty in the country.
Georgian Economy Minister Levan Davitashvili on Tuesday said the "positive trends" of the country's economic growth from 2022 were expected to be maintained this year due to its multifaceted form over the past 12 months.
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.
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.
Unemployment rate in Georgia decreased by four percent in the second quarter of 2022 compared to the same quarter of the previous year and equalled 18.1 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 Finance Minister Lasha Khutsishvili on Monday said the Government expected “even greater progress” through an increase in economic activity, following World Bank statistics that showed unemployment in the country hit the lowest point in 20 years in 2022.
The Administration of the Government of Georgia on Monday said the economic data of 2022 had shown the poverty rate in the country was at a “historic low” of 15.6 percent.
Georgian Prime Minister Irakli Garibashvili on Monday claimed the current “period of peace” for the country under his Government and its “correct policy” were to be credited with the “exemplary” domestic economic growth of 7.3 percent between January-April and the international tourism revenue exceeding 100 percent in the first quarter of the year.
Irakli Kobakhidze, the MP and the head of the ruling Georgian Dream party, on Friday said “Georgia’s having almost double nominal economic upturn” in three years certainly implies a “relevant” growth in everything, including the turnover of enterprises and the employment rate in the country.
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.
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Unemployment rate in Georgia decreased by 0.7 percentage points in the fourth quarter of 2023 year-on-year and equalled 15.3 percent across the country, the National Statistics Office said on Monday.