19.Aug .2022 12:00

Unemployment rate in Georgia down to 18%

Unemployment rate in Georgia down to 18%
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In the II quarter of 2022, the unemployment rate in Georgia decreased by 4.0 percentage points compared to the corresponding period of the previous year and equaled 18.1 percent, reads an updated data of the National Statistics Office of Georgia (GeoStat).

In the second quarter of 2022, compared to the corresponding period of the previous year, the number of hired employed increased by 36.2 thousand persons (4.4%) and reached 867.9 thousand, while the number of self-employed increased by 19.4 thousand (5.1%) and equaled to 401.2 thousand. In the same period, the number of unemployed decreased by 63.0 thousand (18.3%) and equaled to 281.6 thousand.

In the second quarter of 2022, compared to the previous quarter, the number of hired employed increased by 50.2 thousand persons (6.1%), the number of self-employed increased by 18.9 thousand (4.9%), and the number of unemployed decreased by 8.1 thousand (2.8%).

In the II quarter of 2022, the labour force participation rate (share of the labour force in the total population aged 15 and older) increased by 0.1 percentage points compared to the corresponding period of the previous year and became 51.5 percent, while the employment rate increased by 2.1 percentage points and amounted to 42.2 percent. The Labour force participation rate in urban settlements decreased by 1.6 percentage points, while it increased by 2.3 percentage points in rural settlements compared to the previous year. The employment rate increased in urban settlements (by 0.9 percentage points) as well as in rural areas (by 3.7 percentage points) and equaled 42.8 and 41.4 percent, respectively.

In the II quarter of 2022, the share of hired employees among employed persons was 68.4 percent, which is 0.1 percentage points lower than the previous year`s corresponding period.

In the II quarter of 2022, the unemployment rate decreased in urban as well as in rural settlements by 3.9 percentage points, compared to the corresponding period of the previous year.

Traditionally, the unemployment rate is higher for men than for women. In the II quarter of 2022, compared to the corresponding period of the previous year, this indicator decreased for women by 3.8 percentage points, while it decreased by 4.0 percentage points for men.

The labour force participation rate is higher for men than for women. In the II quarter of 2022, the indicator for women was 40.8 percent and for men – 64.2 percent. The labour force participation rate for women increased by 0.1 percentage points, while for men it increased by 0.5 percentage points, compared to the corresponding period of the previous year.

In the II quarter of 2022, the employment rate for women as well as for men increased by 1.6 and 2.9 percentage points, respectively compared to the corresponding period of the previous year, GeoStat says.