Unemployment rate in Georgia decreased by 0.7 percentage points in the fourth quarter of 2023 year-on-year and equalled 15.3 percent across the country, the National Statistics Office said on Monday.

The number of hired employees increased by 8.4 percent and reached 74,300 individuals, while the number of self-employed decreased by 1.6 percent, to 6,600. In the same period, the number of unemployed individuals went down by 0.4 percent, to 248,600.

The share of the labour force in the total population aged 15 and above increased by 1.7 percentage points y/y, to 54.3 percent, while the employment rate increased by 1.8 percentage points and amounted to 46 percent. 

The Office also said the labour force participation rate in urban areas had increased by 1.9 percentage points and by 1.2 percentage points in rural settlements. The employment rate in the former increased by 1.7 percentage points and equalled 47.5 percent, while in rural areas it increased by 1.8 percentage points, to 43.9 percent.

The share of hired employees among employed individuals was 69.8 percent, 2.1 percentage points higher than the previous year’s corresponding period, according to the Office.

In Q4, the unemployment rate decreased in both urban and rural areas of the country, by 0.2 and 1.6 percentage points respectively.

The body also said the unemployment rate was "traditionally higher for men than for women", adding the indicator decreased for women by 0.3 percentage points, and for men by one percentage point, equalling 13.5 and 16.8 percent respectively.

agenda.ge