Georgian Deputy Economy Minister: unemployment at “historic low” following "high" economic growth

Vakhtang Tsintsadze, the Deputy Economy Minister of Georgia, on Monday said “high economic growth” had led to an increase in the number of jobs while the level of unemployment had decreased to a “historic low” in the country.

The trends of high economic growth continue in the country, with an average economic growth of nine percent over the last six months. As a result, the number of employed individuals is steadily rising, while the level of unemployment has decreased to a historic minimum of 13.7 percent in the second quarter”, he said.

The unemployment rate dropped by 3.1 percentage points in the Q2 year-on-year, the National Statistics Office of Georgia said on Monday.

• Unemployment rate in Georgia down by 3.1% in Q2, statistics office says

Acknowledging the “parallel growth” of employment with the labour force, Tsintsadze highlighted this as an indicator of “healthy trends” and “structural improvement” in the labour market.

He said the dynamic of “high” economic growth would continue to “positively influence” the labour market, potentially leading to the creation of new jobs and an increase in population incomes “in the coming months and years”.