Page 23 - GEORptDec21

Average monthly salary in Georgia amounts to GEL1,328 says Geostat
of 2018 (when the number of people seeking a job was 9% bigger than in Q1 this year), the jobs count in Georgia’s economy dropped by 9.3%, or by 80,000. As compared to the pre-crisis period, the jobless rate should be adjusted to reflect discouraged workers who have given up hope of finding a job, at least for a good while.
According to Georgia’s National Statistics Office (Geostat), in Q2, the average monthly nominal earnings in Georgia increased by 15.5% (GEL 177.9) y/y to total GEL 1,328.
Geostat said the average earnings equalled GEL 1 077 for women and GEL 1 560 for men. As for the annual growth of earnings, the figure amounted to GEL 153.6 for women and GEL 207.6 for men. "In the majority of sectors of economy the average monthly earnings of men were higher compared to women," noted Geostat.
According to the statistics office, the highest earnings were observed in the following fields: financial and insurance activities, GEL 2,354.7 (increased by 15.4% y/y); information and communication, GEL 2,173.0 (increased by 12.4%); construction, GEL 2,006.1 (increased by 23.7%); and professional, scientific and technical activities, GEL 1 919.5 (increased by 7.4%).
2014
2015
2016
2017
2018
2019
2020
Q1 2021
Q2 2021
Labour force (Active population), thousand persons
1629.0
1675.6
1653.8
1641.4
1605.2
1572.8
1523.7
1447.2
1559.1
Employed, thousand persons
1255.0
1308.5
1294.5
1286.9
1296.2
1295.9
1241.8
1129.7
1214.6
Unemployed, thousand persons
374.0
367.2
359.2
354.5
309.0
276.9
281.9
317.5
344.6
Unemployment rate %
23.0
21.9
21.7
21.6
19.2
17.6
18.5
21.9
22.1
Source: Geostat
4.4.2 Retail sector dynamics
Retail sales grew 51.1% y/y in 2Q21
Retail sales in Georgia grew 51.1% y/y in the second quarter of 2021,
compared to a 0% increase in the first quarter and a plunge of 5.7% in the previous quarter, according to Geostat. The second quarter of 2020 was by far the largest decline in retail trade recorded at -14.5% brought on by the coronavirus pandemic.
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 14.5% from March 2010 to June 2021.
23 GEORGIA Country Report December 2021 www.intellinews.com