The Chairman of Armenia's Central Bank Martin Galstyan said that gross private sector wages have risen by more than 20% from 2021. 'We have been observing this phenomenon for several months in a row. We also notice that unemployment is at a historically low level, but there are still many vacancies," he said.
At the same time Galstyan noted that there are certain problems in the labor market.
"We hear anecdotal stories when Armenian companies start hiring employees from abroad to cover their needs. Quite high salaries are observed in construction, trade, services sectors," he said, noting that the overheated labor market persists.
Prime Minister Nikol Pashinyan said late in October that the number of officially registered jobs in the country hit a new record in September 2022 growing by 10,000 from June 2022 to 691,087.
He said compared to September 2021, the number increased by 39,946, or 6.1%, and compared to 2018 by 108,312 or 18.6%, ARKA reports.
