Unemployment rate in Georgia down 1.4% in Q12023

Georgia Materials 19 May 2023 16:58 (UTC +04:00)
Unemployment rate in Georgia down 1.4% in Q12023

BAKU, Azerbaijan, May 19. Georgia's unemployment rate in the first quarter of 2023 decreased by 1.4 percent year-on-year and totaled 18 percent across the country, Trend reports.

As the latest statistics say, the number of individuals hired for employment increased by 5.6 percent, totaling 863,500, while the number of self-employed individuals increased by 6.6 percent, amounting to 407,700.

During the same period, the number of unemployed individuals decreased by 3.6 percent, totaling 279,200.

The proportion of the labor force among the population aged 15 and older increased by 2.1 percentage points year-on-year, reaching 52 percent, while the employment rate rose by 2.4 percentage points, reaching 42.6 percent.

The labor force participation rate in urban areas increased by one percentage point, while in rural areas, it increased by 3.2 percentage points compared to the previous year. The employment rate also increased in urban areas (by 1.2 percentage points) and rural areas (by 3.8 percentage points), reaching 43.5 percent and 41.3 percent, respectively.

The share of hired employees among the employed individuals was 67.9 percent, which was 0.2 percentage points lower than the corresponding period of the previous year.

In the first quarter, the unemployment rate decreased in both urban areas (by 0.8 percentage points) and rural areas (by 2.4 percentage points).

Statistics also indicate that the unemployment rate was traditionally higher for men than for women, with a higher labor force participation rate for men. The indicator decreased by 1.7 percentage points for women and by 1.1 percentage points for men, resulting in rates of 15.1 percent and 20.3 percent, respectively.