Armenia's workforce exceeds 776,000 : Top 6 employment sectors

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Economy

22.11.2024, 14:20

The number of formally employed individuals in Armenia's labor market reached 776.8 thousand by the end of September 2024, a 5.6% increase compared to September 2023.

Armenia's workforce exceeds 776,000 : Top 6 employment sectors

YEREVAN, November 22. /ARKA/. The number of formally employed individuals in Armenia's labor market reached 776.8 thousand by the end of September 2024, a 5.6% increase compared to September 2023. This is stated in Armenia’s Ministry of Economy report, "Armenia: Economic Prospects. January-September 2024.’’

Leading sectors of employment at the end of September 2024:

• Wholesale and retail trade: 130.5 thousand employees
• Education: 125.6 thousand employees
• Manufacturing: 91.4 thousand employees
• Health care and social services: 52.8 thousand employees
• Information and communication: 45.0 thousand employees
• Construction: 42.2 thousand employees

‘’Compared to September 2023, employment growth was observed in nearly all sectors," the study notes.

According to the World Bank’s ‘’Armenia Monthly Economic Update – November 2024’’, the unemployment rate in Armenia rose from 11.7% in the second quarter of 2023 to 13.8% in the second quarter of 2024. This increase is mainly attributed to rising unemployment among men, as well as the influx of refugees who have yet to integrate into the labor market. -0-

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