World Bank says 2022 Georgian unemployment rate lowest in 20 years
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. Photo: Nino Alavidze/Agenda.ge
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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.
The numbers, sourced from the International Labour Organisation’s database, also showed the unemployment rate went down 0.9 percent last year compared to 2021.
They also contrast the 19.6 percent unemployment figure from 2012 - leading to a figure of 324,000 unemployed individuals - to 175,000 in 2022.
Last week’s data from the National Statistics Office of Georgia showed the unemployment rate decreased by 1.4 percent in the first quarter of 2023 year-on-year and equalled 18 percent across the country.
The Office also said the number of hired employees had increased by 5.6 percent and reached 863,500 individuals, while the number of self-employed had risen by 6.6 percent and equalled 407,700 people.
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.
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.
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.
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.
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.
Georgian Deputy Economy Minister Vakhtang Tsintsadze on Friday said the country’s “high economic growth” had made a “positive impact” on the labour market by reducing unemployment to its “historic low” of 16.7 percent.
Georgian Deputy Economy Minister Vakhtang Tsintsadze on Monday said the number of employed individuals across the country had increased by 7,700 year-on-year and reached a “record-high” figure of 1.36 million in the third quarter of 2023.
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.