ArmInfo. The unemployment rate in Armenia, calculated using the new methodology, decreased in 2018 to 20.4% of the average y-o-y from 20.8% in 2017. And in the calculation according to the old method, a decrease in the unemployment rate for 2018 to 16.3% of the average y-o-y was recorded from 17.8% in 2017. According to the RA Statistical Committee, the new calculation method does not take into account those employed in the household.
According to the source, as of January 1, 2019, according to the new methodology, the number of employed people reached 915.5 thousand people. (with an annual growth of 1.4%) or 45.4% of the economically active population (against 44.7% in 2017), and there were 234 thousand unemployed people. (with an y-o-y decline of 1.1%). In the calculation according to the old method, the number of employed population reached 1073.8 thousand people. (with an y-o-y growth of 6.1%) or 53.3% of the economically active population (against 50.1% in 2017), and there were 208.4 thousand unemployed people. (with an y-o-y decline of 4.8%).
It is noteworthy that after the Central Bank's forecast of 17.9%, which almost coincided in 2017, with the actual level of 17.8%, the Central Bank's forecast for 2018 in terms of unemployment was exact - 16.3% (calculated by the old method).
To note, for 2019 the Central Bank of Armenia forecasts the unemployment rate at 15.9% (according to the old methodology), and in the medium term it expects the unemployment rate to y-o-y decline by 0.1-0.2 percentage points to 15.6%. The Central Bank expects this level of unemployment in terms of GDP growth of 4.6-6.1% predicted for 2019.
According to published in March of this year the World Bank's forecast that the level of poverty in Armenia (calculated on the basis of purchasing power parity (PPP) at a cost of $ 5.5 per day) may decrease to 35.9% in 2019 from an expected 38% by 2018. Based on PPP of $ 3.2, the level of poverty in Armenia, according to the forecast of the World Bank, may decrease in 2018-2019 from 10.1% to 9.1%, and based on PPP of $ 1.9 - from 1.3% in 2018 to 1% in 2019 WB experts note: "Despite the fact that the improvement of economic indicators and the dynamics of the labor market have contributed to the reduction of poverty, most of the population of Armenia continues to feel the influence of poverty."