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The unemployment rate declines steadily as ages increase though, as Geostat points out, the low level for the 65+ age group is due to the high inactivity rate in this age group.
Georgia’s unemployment rate is higher than the rates of most EU countries, though below the rates of crisis-hit Spain and Greece, most of the Western Balkan countries, and neighbouring Armenia.
Geostat made fundamental changes to how it compiles its labour force statistics in 2017, after new data in the population dynamics and the population’s geographic distribution in the country were revealed by the 2014 census. At the same time, new measures were taken with support from the World Bank and other international organisations and partners to improve the labour indicators.
4.4.2 Retail sector dynamics
Retail sales rises at a slower rate of 5.6% y/y in 4Q18
Retail sales in Georgia increased 5.6% y/y in the fourth quarter of 2018, easing from the 12% y/y rise in the previous quarter, according to CEIC data. It was the lowest growth in retail trade since the second quarter of 2016.
In 2017, retail trade turnover reached GEL9,929.8mn, up from GEL8,101.9mn in 2016. Retail sales, which has been growing at a strong double-digit pace for several years, grew by only 8-9% in 2015-16 as wage growth slowed and unemployment rose.
Retail sales y/y in Georgia averaged 16.5% from 2000 to 2018.
16 GEORGIA Country Report April 2019 www.intellinews.com