As of Q1, 2021, the number of hired employees down by 108 thousand in Georgia, show preliminary data from Statistics Office of Georgia (Geostat).
According to the report, number of self-employed persons is declined by 25 thousand to 345.7 thousand. Totally, the number of employed persons down by 132.9 thousand.
Geostat reports, that the unemployment rate surged to 21.9% in Georgia.
According to a report published by the International Labor Organization (ILO), Georgia is in the top ten in the world in terms of unemployment and ranks tenth. The data of the International Labor Organization is based on the data of 2020 in the case of 7 countries, including Georgia.
Keti Bochorishvili, former Deputy Minister of Economy sees a way in stimulating the private sector by the state. Keti Bochorishvili explains that the reduction of the unemployment rate is also described in the strategic document of the government, however, the strategy has remained only on the paper. According to her, the issue is complex and can only be resolved through consistent policies.
“Decline of the investments is directly correlated with the unemployment rise, we need to consider various incentives ... Improvement of the business environment is the first sign that indicates on employment. If employment does not grow, it means that we are making some mistakes in the business environment because the business cannot employ people itself.
The state can never create as many jobs as the private sector, we must exclude this. The state should be efficient to create an ecosystem that will stimulate the private sector and then, the private sector will provide employment. We do not see any steps and projects to support the private sector amid the pandemic,” said Keti Bochorishvili.
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