In the second quarter of 2024, the unemployment rate in Georgia decreased by 3.1 percentage points compared to the same period the previous year, reaching 13.7%, according to data released by "Geostat."
During this quarter, the number of employed individuals increased by 19.1 thousand (2.1%), bringing the total to 935.8 thousand. Meanwhile, the number of self-employed individuals rose by 41.3 thousand (10.1%) to 451.5 thousand. Simultaneously, the number of unemployed persons decreased by 47.2 thousand (17.7%), totaling 219.7 thousand.
The labor force participation rate (the share of the labor force in the population aged 15 and older) increased by 1.3 percentage points from the same period last year, reaching 54.5%. The employment rate also saw a rise of 2.8 percentage points, reaching 47%. According to "Geostat," the labor force participation rate in both urban and rural areas increased by 1.3 percentage points, while the employment rate in urban areas rose by 3 percentage points and in rural areas by 2.5 percentage points, now standing at 47.9% and 45.8%, respectively.
It is noteworthy that in the second quarter, compared to the same period the previous year, the share of hired workers in the total number of employed individuals decreased by 1.6 percentage points, amounting to 67.5%. Consequently, the share of the self-employed is now 32.5%.
"Geostat" data also show that in the second quarter, the unemployment rate in urban areas decreased by 3.5 percentage points and by 2.5 percentage points in rural areas. As a result, the unemployment rate in urban areas was 14.3%, while in rural areas it was 12.8%.
Regarding unemployment by gender, the rate remains traditionally higher among men than women. In the second quarter of 2024, compared to the same period the previous year, the unemployment rate decreased by 3.6 percentage points among women and by 2.6 percentage points among men, resulting in rates of 10.9% and 15.9%, respectively.
Additionally, the labor force participation rate is higher among men than women. In the second quarter of 2024, the rate was 44.4% for women and 66.1% for men. Compared to the same period last year, labor force participation among women increased by 1.5 percentage points and by 1 percentage point among men.
As for the employment rate, it increased by 2.9 percentage points among women and by 2.6 percentage points among men in the second quarter. Consequently, the employment rate for women is now 39.6%, and for men, it is 55.6%.
