BAKU, Azerbaijan, Nov. 23
By Maryana Akhmedova – Trend:
Georgia’s unemployment rate in the third quarter of 2021 increased by 2.5 percentage points, compared to the same period of 2020, to 19.5 percent, Trend reports via Galt & Taggart weekly market watch.
However, the same index decreased by 2.6 percentage points, compared to the previous quarter of 2021, the report said.
According to the report, the unemployment rate in Georgia in the third quarter of 2021 has reduced for the first time, since growing during the fourth quarter of 2020 through the second quarter of 2021; however, it still exceeds the pre-COVID-19 level.
Meanwhile, according to the National Statistics Office (Geostat), the employment rate in Georgia in the reporting period of 2021 increased by 0.7 percentage points, compared to the same period of 2020, to 42.5 percent.
The share of hired employees in Georgia in the third quarter of 2021 accounted for 67.3 percent (0.7 percentage points increase) out of total employed people, while the share of self-employed people accounted for 32.7 percent (0.7 percentage points decrease).
According to Galt & Taggart, the labor force participation rate (52.8 percent) exceeds the pre-COVID-19 level, meaning that more people are seeking jobs and this also drives the unemployment rate higher.
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