According to early indicators from Geostat, the national statistics service of Georgia, in the fourth quarter of 2018, the unemployment rate in Georgia rose by 0.1% compared to the previous quarter, and constituted 12.3%. As for the annual indicator in 2018, compared to 2017, the unemployment rate declined by 1.2% to 12.7%.
According to Geostat, over the past 9 years, the annual unemployment rate is declining. At the same time, the lowest indicator of unemployment was recorded in 2018 over the past 15 years.
According to the aforementioned report, in the fourth quarter of 2018, economically active residents accounted for 63.6% of all able-bodied adult citizens. As compared to the previous quarter, the rate of activity of our population and employment rate declined by 0.7%. In urban areas, employment is 0.2% lower compared to the previous quarter, while in rural zones the employment rate decreased by 1.3% quarter on quarter.
At the same time, the ratio of self-employed in the 4th quarter of 2018 constituted 48.7% of the total quantity of the employed, down 0.1% quarter on quarter.
According to Geostat, the unemployment rate is lower in rural areas. In the 4th quarter of 2018, as compared to the previous quarter, the unemployment rate declined by 0.4% in rural settlements. A 0.5% contraction was recorded in urban settlements.
It is worth noting that the unemployment rate is higher among men. In the 4th quarter of 2018, the rate was by 2.6% higher in men compared to women. At the same time, the reporting quarter recorded a 0.3% contraction in the unemployment rate among women, while the rate increased by 0.6% among men quarter on quarter.
The level of activity is higher among women compared to men. In the 4th quarter of 2018, the aforementioned indicator stood at 55.6% among women and at 72.8% among men. The indicator declined by 0.5% among women, and 1.1% among men quarter on quarter.
According to Gogita Todradze, the executive director of Geostat, the unemployment rate in 2018 has declined in both categories year on year. Namely, the rate decreased by 1.1% among men, and totaled 13.9%, while the rate declined by 1.5% among women, and made up 11.2%.
“It is important that in 2018, for the first time in independent Georgia, the number of employees exceeded the number of self-employed citizens. At the same time, the employment structure has also improved – the number of self-employed is declining and the number of hired employees is growing. Considering that, on average, one hired employee creates 2-2.5 times more value, compared to the self-employed, this change signifies that this new structure is equivalent in total number to the structure of employees, with about 50 000 self-employed”, Soso Archvadze said.