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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.
The average monthly nominal earnings in Georgia amounted to GEL1,068.3 in 2018, up from GEL999.1 a year ago.
4.4.2 Retail sector dynamics
Retail sales accelerates to 12.2% y/y in 2Q19
Retail sales in Georgia increased 12.2% y/y in the second quarter of 2019, accelerating from a 9.6% y/y rise in the first quarter of 2019, according to CEIC data. The fourth quarter of 2018 was the lowest growth in retail trade since the second quarter of 2016 at 4.4%.
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% from 2000 to 2019.
22 GEORGIA Country Report November 2019 www.intellinews.com
