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Unemployment in Georgia at historic low - deputy minister

In the second quarter, the number of employed people increased by more than 60,000 and amounted to 1.4 million, the deputy minister said


TBILISI, August 20 - Sputnik. The unemployment rate in Georgia has fallen to a historic low and the number of employed people increased in the first half of 2024 as a result of high economic growth rates, Deputy Minister of Economy and Sustainable Development Vakhtang Tsintsadze said.


According to the National Statistics Service “Sakstat”, the unemployment rate in Georgia in the second quarter of 2024 amounted to 13.7%, which is 3.1 percentage points less compared to the same period of 2023. During the reporting period, the number of unemployed decreased by 17.7% and amounted to 219.7 thousand people. The nationwide employment rate increased 2.8 percentage points to 47% during the period.


“High economic growth trends continue in the country - the average economic growth for the six months is 9%, as a result the number of employed people is increasing, while at the same time the unemployment rate has fallen to a historic low and stands at 13.7% in the second quarter,” Tsintsadze said.


According to Tsintsadze, the number of employed people in the country has increased record high since the beginning of the year.


As the deputy minister noted, in the second quarter the number of employed grew by more than 60 thousand and amounted to 1.4 million.


“It should be noted that the growth of employment is recorded in parallel with the growth of the labor force, which indicates healthy trends and structural improvement in the direction of the labor market,” he said.


He said the government expects the momentum of high economic growth to continue in the coming months and years, which will also have a positive impact on current trends in the labor market and will contribute to the creation of new jobs in the country and increase incomes.


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