In January 2024, the number of registered workers in Armenia reached 727,365, which is 5.6% higher than the data for the same period of the previous year.
The average nominal wage for the same month increased to 266,990 drams (about 662 dollars), marking a 7.1% increase compared to January of the previous year. This increase in the indicator is mainly explained by the growth in wages both in the public and private sectors, by 9.8% and 6%, respectively.
It is worth noting that in January 2024, the 12-month inflation rate in the consumer market of Armenia was recorded at 0.9%. Compared to the previous month, inflation stood at 1.2%.
At the end of 2023, in Armenia, 3.3% of potential workers, or 46,000 people, were looking for employment through employment services, compared to 3.7%, or 48,600, a year ago. Overall, the unemployment rate in Armenia is close to 12%.
