14 June 2024,   00:09
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The level of unemployment is at a historical minimum - “GeoStat” publishes new data

In the I quarter of 2024, the unemployment rate in Georgia decreased by 4.0% points compared to the corresponding period of the previous year and equaled 14.0%, reads the report of GeoStat.

In the I quarter of 2024, compared to the corresponding period of the previous year, the number of hired employees increased by 89.4 thousand persons (10.4%) and reached 952.9 thousand, while the number of self-employed - by 40.5 thousand (9.9%) and equaled to 448.2 thousand. In the same period, the number of unemployed decreased by 50.6 thousand (18.1%) and equaled 228.6 thousand.

In the I quarter of 2024, the labour force participation rate (share of the labour force in the total population aged 15 and older) increased by 3.1 percentage points compared to the corresponding period of the previous year and became 55.0 percent, while the employment rate increased 4.7 percentage points and amounted to 47.3 percent. The labour force participation rate in urban settlements increased by 2.8 percentage points and in rural settlements - by 3.4
percentage points compared to the previous year, while the employment rate increased by 5.2 percentage points in urban settlements, in rural areas - by 3.9 percentage points and equaled 48.8 and 45.2 percent, respectively.

In the I quarter of 2024, compared to the corresponding period of the previous year, the share of hired employed in the total number of employed increased by 0.1 percentage points and equaled 68.0 percent.

In the I quarter of 2024, compared to the corresponding period of the previous year, the unemployment rate decreased in urban settlements by 5.3 percentage points while in rural settlements - by 2.0 percentage points.

Traditionally, the unemployment rate is higher for men than for women. In the I quarter of 2024, compared to the corresponding period of the previous year, this indicator decreased by 4.0 percentage points for women as well as for men and equaled 11.1 and 16.3 percent, respectively.

The labour force participation rate is higher for men than for women. In the I quarter of 2024, the indicator for women was 45.0 percent and for men – 66.4 percent. The labour force participation rate for women increased by 3.1 percentage points, while for men it increased by 2.8 percentage points, compared to the corresponding period of the previous year.

In the I quarter of 2024, the employment rate for women increased by 4.4, while for men - by 4.9 percentage points, compared to the corresponding period of the previous year.

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