Unemployment in Armenia declines

ArmInfo.Unemployment in Armenia, calculated on a  new method, not taking into account employed in the household, in  June 2018 was 20.6%. According to the National Statistical Committee  of the country, compared to the same period last year, it fell by  1.2% points. According to the old method of calculation, the official  unemployment rate dropped from 19.0 to 17.6%.

Thus, for six months the number of officially registered unemployed  in the country decreased from 69 784 to 68 364 people. In annual  terms, the number of unemployed fell by 10.8%.

It is noteworthy that despite the decline, the structure of  unemployment in Armenia remains ambiguous. So, on the one hand, of  the total number of registered unemployed, 27.7% accounted for people  of the most active working age - 35-44 years. Citizens from 45 to 54  years make up 21.3% of the unemployed. On the other hand, young  people from 25 to 29 years old make up only 12%, and people aged 30  to 34 years - 14%. On average, unemployment among young people (from  16 to 29 years) is 23% of the total number and the main difficulties  in finding work are for older people, starting from 30 years.

From a gender perspective, the situation in the country remains  almost unchanged over the past few years:  of the total number of  official unemployed, 45.3 thousand are women and 23.0 thousand are  men. It is worth noting that in the middle of last year, the Central  Bank of Armenia updated the forecast for unemployment in the medium  term. The forecasts of the Central Bank indicate a downward trend  (according to the old methodology): in 2018 - the unemployment rate  will be 17-17.3% and in 2019 - up to 16.7-17%.