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S&P forecasts decrease in unemployment rate in Azerbaijan

Finance Materials 25 January 2021 17:57
S&P forecasts decrease in unemployment rate in Azerbaijan

BAKU, Azerbaijan, Jan. 25

By Zeyni Jafarov – Trend:

The unemployment rate in Azerbaijan will stop at 5.7 percent in 2021, Trend reports with reference to the reporting data of the international rating agency Standard & Poor's (S&P).

According to the S&P, this indicator indicates a decrease in unemployment in the country by 1 percentage point compared to 2020, where the unemployment rate is estimated at 6.7 percent.

Also, in the statistical report, it is indicated that in 2022 the unemployment rate will drop to 5 percent, and in the next two years - to 4.9 and 4.7 percent, respectively.

According to preliminary data of Azerbaijan’s State Statistical Committee as of January 1, 2021, the economically active population of Azerbaijan is 5.25 million people, of which 4.876 million are employed.

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