Tuesday, September 30 2014 18:55
Armenia's Central Bank reviews its outlook for salary growth and unemployment rate in 2014
ArmInfo. The Central Bank of Armenia has reviewed its outlook for salary growth and unemployment reduction in 2014.
In Q3 2014 nominal salary is expected to grow by 11.6% against earlier growth of 11% due to growth in minimum and state wages and the launch of accumulative pension system.
In 2014 unemployment rate is expected to grow by 0.3% to 16.5% against earlier drop of 0.3% to 15.8%.
In 2015-2017 as economy will be growing unemployment will be dropping. This will result in a continuous growth in wages.
According to the National Statistical Service of Armenia, in 2013 nominal salary in Armenia grew by 6.5% to 158,967 AMD or $388. In state-owned companies wages grew by 6.5% to 140,419 AMD or $343, while in private companies they grew by 7% to 185,410 AMD or $453.
By the data of the Armenian Ministry of Labor and Social Affairs, in 2013 unemployment in Armenia made up 16.2% versus 17.3% in 2012. According to the National Statistical Service of Armenia, in late 2013 the number of job seekers was 65.2 thsd (down 10.2% versus late 2012). 57.9 thsd people of them were jobless (down 10.4%), including 56 thsd unemployed people (down 10.3%). In late 2013 the number of unemployed women was 41.3 thsd, or 73.7% (down 9%).
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