Galt & Taggart's predicts, that the unemployment rate in Georgia will decrease to 13.5% by 2025. This is stated in the investment bank's updated weekly review.
According to the document, unemployment rate stood at 14.7% in 1Q25
The rate rose by 0.6ppts y/y to 14.7% in 1Q25, driven by a 3.0% y/y drop in self-employed individuals and a 0.2% y/y expansion in the labor force. During this period, labor force totaled 1,634 thousand people. Of these, 1,394 thousand were employed (-0.5% y/y), while 239.4 thousand were unemployed (+4.7% y/y).
In 1Q25, the number of hired employees grew by 0.6% y/y, representing 68.7% of total employment, while self-employed individuals fell by 3.0% y/y. Importantly, labor force participation rate edged down 0.2ppts y/y to 54.8% in 1Q25.
Galt&Taggart forecasts the unemployment rate at 13.5% in 2025.
