Unemployment rate in Armenia drops to record low

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06.11.2023, 19:48

The unemployment rate in Armenia is decreasing every year, Finance Minister Vahe Hovhannisyan said on Monday.

Unemployment rate in Armenia drops to record low

YEREVAN, November 6. /ARKA/. The unemployment rate in Armenia is decreasing every year, Finance Minister Vahe Hovhannisyan said on Monday.

"I don't remember that Armenia has ever had such a low unemployment rate. But I also agree that government-designed programs to address this issue need to be fine-tuned and improved," Hovhannisyan said at a parliamentary hearing on the draft state budget for 2024.

Minister of Labor and Social Affairs Narek Mkrtchyan supported him, saying that the unemployment rate now stands at 11.7%, down 2% from 2022.

He expressed confidence that this should be reflected in poverty reduction indicators as well.

Earlier, Armenian Prime Minister Nikol Pashinyan said that in September 2023, the number of officially registered jobs set a new record growing to 726,056. -0-

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