Page 20 - GEORptFeb22

4.4 Labour and income
4.4.1 Unemployment, income dynamics
Unemployment in Georgia up 2.5pp y/y to 19.5% in Q3
The unemployment rate in Georgia increased by 3.3pp in January - September 2021, to 21.2% compared to 17.9% in the same period last year. In the third quarter of the year, the unemployment rate eased to 19.5% and the annual advance narrowed to 2.5pp.
In the fourth quarter, the base effects will dissipate and the annual figures may decrease compared to the January - September average yet remain above the 20% threshold, most likely 2pp above the 2020 average.
The unemployment rate in Georgia picked up for the first time in response to the COVID-19 crisis no earlier than the last quarter of 2020 - with a significant lag compared to the economic slowdown.
Speaking of the number of persons employed, this decreased by 2.3% (17,957 persons) to 678,000 persons in Q3, 2021 compared to 696,000 persons in Q3, 2019 before the crisis.
Employment has increased in the sectors of mining, services to households
20 GEORGIA Country Report February 2022 www.intellinews.com