BAKU, Azerbaijan, November 10. The Central Bank of Azerbaijan (CBA) will carry out surveys and analysis services related to the labor market, Trend reports.
The regulatory authority has already begun preparatory work for this initiative. The CBA is currently in the process of selecting a company to perform these services.
Additionally, the bank has estimated that the cost of conducting the labor market surveys and analysis services will be 90,300 manat ($53,117).
The labor market in Azerbaijan is characterized by a stable and large, though still-developing, workforce with an unemployment rate near 5 percent. A key feature is the ongoing diversification away from the oil and gas sector, with a majority of the workforce now employed in non-oil sectors like trade, education, and construction.