20.Nov .2020 10:15

219 thousand citizens are unemployed in Q3, 2020

219 thousand citizens are unemployed in Q3, 2020
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As of Q3,2020, 1.628 million people are employed in the country, while 219 thousand citizens are unemployed, - Geostat reports.

In the III quarter of 2020 economically active population constituted 60.8 percent of the working age population (population aged 15 and older). The economic activity rate compared to the corresponding period of the previous year decreased 0.8 percentage points and amounted to 11.9% respectively.

The employment rate on the country level decreased by 1.9 percentage point. In urban settlements, the employment rate decreased by 1.8 percentage point, while in rural settlements - by 2.3 percentage point.

Labor force - 1,847 million (-55,000 compared to the same period of the last year);
Employed - 1,628 million (-63,000 compared to the same period of the last year);
Hired - 805 thousand (50 000 compared to the same period of the last year);
Self-employed - 822 thousand (-13 000 compared to the same period of the last year);
Unemployed - 219 thousand (-8 000 compared to the same period of the last year);
Population outside the labor force - 1,189 million (-48,000 compared to the same period of the last year);

According to economists, the main reason for unemployment rise is the economic crisis caused by the pandemic. Some analysts do not rule out that the real numbers may be much higher than Geostat records.

"The rise in unemployment has been affected by the economic crisis, which is based on a pandemic. Of course, when there is an economic crisis, then jobs disappear and consequently, it directly affects the unemployment rate.

The economic situation has mainly led to the formation of existing indicators, because when a business stops or leaves the market, it means lost jobs. The latest data is doubtable, because I think the unemployment rate is much higher. They probably did not make full use of parameters, as many people who had emigrated and joined the ranks of the unemployed," said Ramaz Gerliani.