Unemployment Down!

The number of people employed in Georgia is increasing.

Geostat, Georgia’s national statistics office, has released the results of a study of Georgia’s unemployment rate, revealing that at the end of 2014 the unemployment rate　in Georgia stood at 12.4 percent – the lowest figure in 11 years.

The 2014 unemployment rate showed a drop of 2.2 percent on the figures for 2013, when the country experienced a 14.6 percent unemployment rate. Since 2006 unemployment in Georgia has risen from 13.6 percent, reaching a peak in 2009 at 16.9 percent, and continuously declined every year since.

“These results show that employment has increased in Georgia. I understand the problems of those [who fit into the] 12.4 percent [unemployment category] but we have to solve all the problems step-by-step,” said Georgia’s Finance Minister Nodar Khaduri.

When divided by gender, the results show that in 2014, 10.4 percent of women were unemployed (a 1.9 percent drop) and 14 percent men (a 2.5 percent drop).

In terms of age, Geostat noted that the unemployment rate had remained the same for the 55-59s, while a decline was experienced by all other groups. A sharp reduction (11.3 percent) in unemployment was seen in the 15-19 age group, however this category also showed the highest unemployment rate amongst all other age categories.

Of the working-age population (aged 15-65), 66.5 percent were ‘economically active’ (employed). The employment rate of this group of people increased by 1.7 percent in the last year.

Most people in Georgia were self-employed (60.2 percent of total employment figures), however trends since 2006 showed more people being hired as employees.

Unemployment remained highest in Georgia’s capital, yet Geostat claimed that this had reduced by 6.6 percent in the last year. The data further showed that employment had increased in rural areas (0.8 percent), while decreasing in urban areas (0.5 percent).