ArmInfo. The unemployment rate in Armenia in Q1 2023 increased from 12.7% to 13.7%, but compared to the bar a year ago, it turned out to be lower (14.8% in Q1 2022). This is evidenced by the data of the RA Statistical Committee.
At the same time, according to statistical data, the employment rate in the country in Q1 2023 increased to 50.9% from 48.4% in Q1 2022 (against 51% in Q4 2022). According to the source, as of April 1, 2023, the number of employed people reached 1.130 million people (with a y-o-y growth of 5.5%), and as of the reporting date there were 179.6 thousand unemployed people, (with a y-o-y decline of 3.6%).
According to statistics, as of June 1, 2023. 64.8 thousand people were looking for job (decline by 17.6% per annum), of which over 45.2 thousand are unemployed (decline by 16.2% per annum). Moreover, there are much more women among job seekers - over 40.4 thousand (with a y-o-y decline of 20.8%) than men - 24.3 thousand (with a y-o-y decline of 11.7%). And the dynamics are the same among the unemployed population: 28.5 thousand women (with a y-o-y decline of 17.3%), and 16.7 thousand men (with a y-o-y decline of 14.2%).
In May 2023, labor demand by employers increased 1.2-fold year-on-year - up to 3.149 thousand people, while the load per 1 vacancy decreased by 39.5% per annum - up to 21 people.
In the reporting month, 972 citizens managed to find a job (a y-o-y decline of 0.8%), or 1.5% of the total number of job seekers. Of the number of employed 390 are men (y-o-ygrowth of 6.8%), and 582 -are women (y-o-y decline of 5.4%). It should be noted that in the new June forecast for 2023, the Central Bank worsened its expectations for the unemployment rate in Armenia upward from the previous 12.6% to the updated 13.4%, which will be slightly higher than the 13% recorded in 2022. This is definitely below the long-term stable level. Such a forecast of the Central Bank causes an increase in the level of employment in the short term against the backdrop of high demand. In the medium term, as a result of some adjustment in demand and capacity growth, the unemployment rate will stabilize around the estimated baseline of 15%. For comparison, it would be appropriate to recall that in 2019-2020 the actual unemployment rate from 17.9% to 18.1%, then in 2021 decreased to 15.3%.
