Vakhtang Tsintsadze Reports 'Record' Employment Level of 45.3% in the Third Quarter of 2023
By Liza Mchedlidze
Tuesday, November 21, 2023
As highlighted by Deputy Minister of Economy and Sustainable Development of Georgia, Vakhtang Tsintsadze, in the third quarter of 2023, following significant positive trends observed in the same period of the previous year, the upward trajectory in employment dynamics continued.
The workforce also experienced growth, with the number of employees reaching a record quarterly figure of 1,366.3 thousand, representing an increase of 7.7 thousand. The employment rate also reached a record level of 45.3%.
Deputy Minister Tsintsadze pointed out that Georgia has been experiencing high economic growth trends for the third consecutive year, making it a leader in economic growth within the wider region and among European countries. This positive economic performance has had a beneficial impact on labor market trends.
"In the third quarter of 2023, the number of employed persons increased by 29,300, while the number of self-employed individuals decreased. This shift indicates a transition from self-employment to formal employment. We anticipate that the ongoing economic growth trend will persist in the coming years, further contributing to increased employment and poverty reduction," stated the Deputy Minister.
The information has been provided by the Ministry of Economy and Sustainable Development of Georgia.
