In February 2024, the number of registered workers in Armenia continued to increase, reaching 733 thousand people, up 5% compared to the same period last year.
According to data published by the Statistical Committee, the average nominal monthly wage in February 2024 amounted to 273,425 drams (about $700), which is 9.3% higher compared to the same period the previous year.
"This growth is mainly driven by an increase in wages both in the public and private sectors by 11.2% and 8.5%, respectively," the Statistical Committee report states.
It is important to note that in February 2024, Armenia is experiencing a 12-month deflation in the consumer market, which amounted to 1.7%. Compared to the previous month, this decrease was 0.7%. These data indicate a trend towards lower consumer prices in the country.
