According to Deputy Minister of Economy Vakhtang Tsintsadze, positive trends continue in the labour market based on third-quarter 2024 data.

“The unemployment rate in the third quarter is 13.8 per cent, which is the lowest recorded level in third-quarter comparisons,” the deputy minister noted.

The Ministry of Economy and Sustainable Development reports a record number of employed individuals in the third quarter of 2024. Employment increased by 41,300, reaching 1,408,000 people. The employment level rose by 1.8 percentage points to 47.1 per cent.

“Positive trends are evident in both self-employment and hired workforce growth. Notably, as the labour force increases, the number of employed individuals grows even more, simultaneously reducing unemployment. This confirms the positive and healthy trends in the labour market,” the deputy minister stated.

Tsintsadze attributed the positive indicators to increased economic activity in the country.

“Multiple international financial institutions have revised Georgia’s economic growth forecasts. Our goal is to maintain high economic growth in the coming years to reinforce the trends observed in the labour market,” he added.

According to Tsintsadze, compared to the same period last year, the unemployment rate decreased by 2.6 percentage points in urban areas and 0.5 percentage points in rural areas, standing at 14.1 and 13.4 per cent respectively.