Unemployment is Said to Decrease in Georgia

The outbreak of the COVID pandemic has not only caused the most serious problems to the health of people in the XXI century, but as well as global economic and financial crises leading to mass unemployment in all countries. Some countries could manage with it trying to adapt to the situation. Georgia is one of such countries where the unemployment rate decreased, and this is the indicator of the economic and financial rehabilitation of the country.

According to the information of the National Statistics Office of Georgia the unemployment rate in the country decreased by 1.4% in the IV quarter of 2021 in comparison with the same period of the previous year and it amounted to 19.0 %. The labor force comprises 51.2%  of the working-age population, i.e. aged 15 and older, being 1.2 % more than compared to the corresponding period of last year. The employment rate increasing by 1.7% became 41.5%. The labor force participation is the number of people currently employed or seeking employment excluding students, housewives and retired people. The number of labor force participation in urban places decreased by 0.3%, while there was 3.1% increase in rural settlements. Thus, the increase of employment was by 0.9% in urban and by 2.7 % in rural settlements correspondingly.

While the share of recruited persons was 67.6 % among employed people in the IV quarter of 2021, it increased by 0.4 % compared with the same quarter of the previous year.

So, compared with the IV quarter of last year the unemployment rate decreased by 2.1% in urban and by 0.2% in rural areas consequently.

As a rule, the unemployment rate is higher for men than for women in the world and the situation is similar Georgia. In comparison with the IV quarter of the last year this indicator decreased for women by 1.0% and 1.7% for men accordingly.

The data of the Georgian National Statistics Office demonstrates the economic and financial field of the country to rehabilitate even in the COVID pandemic.

https://www.interpressnews.ge/en/article/118295-unemployment-rate-reached-190-percent-in-georgia-in-fourth-quarter-of-2021