WB: Armenia’s unemployment rate rose slightly in Q3 2023

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Economy

26.01.2024, 11:06

Armenia’s unemployment rate rose slightly in Q3 2023 (yoy) and labor force participation also increased, the World Bank says in its ‘Armenia Monthly Economic Update – January 2024.’

WB: Armenia’s unemployment rate rose slightly in Q3 2023

YEREVAN, January 26. /ARKA/. Armenia’s unemployment rate rose slightly in Q3 2023 (yoy) and labor force participation also increased, the World Bank says in its ‘Armenia Monthly Economic Update – January 2024.’

According to it, unemployment was at 12 percent in Q3 2023, up from 11.6 percent in Q3 2022, due to a 2 percent increase in the labor force (net employed and unemployed,

Labor force participation increased to 61.7 percent in Q3 2023 from 60.9 percent in Q3 2022

Economy Minister Vahan Kerobyan stated last December that the government’s goal is to cut the unemployment rate to below 10%. -0-

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