Unemployment in Armenia in Q2 rose to 13.8% from 11.7% a year earlier - WB

YEREVAN, 20 November. /ARKA/. The unemployment rate in Armenia rose from 11.7 percent in Q2 2023 to 13.8 percent in Q2 2024, driven primarily by increased male unemployment, according to World Bank's 'Armenia Monthly Economic Update – November 2024'.

The increase in total unemployment is largely attributed to the influx of refugees, who have yet to integrate into the labor market.

Urban unemployment also increased more than rural unemployment. Additionally, between 2022 and 2023, the economically active population grew 2.3 percent.

Babken Tunyan, deputy chairman of the parliamentary committee on economic affairs from the ruling Civil Contract party, said earlier that the authorities plan to reduce the unemployment rate to less than 10 per cent. -0-