Galt & Taggart expects the unemployment rate in Georgia to decrease to 13.5% in 2025, - according to Galt&Taggart.
The unemployment rate will be reduced by 2.5ppts y/y to a historical low level of 13.9% in 2024, amid robust economic growth.
"During this priod, the number of hired employed individuals increased by 4.3% y/y, accounting for 68.5% of total employment, while self-employed persons rose by 6.7% y/y. Notably, labor force participation rate increased by 1.5ppts y/y to 54.8% in 2024.
We forecast the unemployment rate at 13.5% in 2025", - reads the G&T report.
According to the National Statistics Office Of Georgia (Geostat), the number of employed people in Georgia reached 1,402,000 late in 2024.
