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Is Unemployment on the Increase?

Published: October 14, 2013 | 9:57 am
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According to the International Monetary Fund data, unemployment in Georgia will increase by 1.7% this year, and reach the 16.7% mark. Next year, the IMF expects a further increase in unemployment to 17.3%, which would represent the second-worst figure in the CIS area after Armenia. The Finance Minister Nodar Khaduri has categorically disagreed with the IMF’s figures, while the Deputy Chairman of the Trade Unions Gocha Laeksandria confirmed that unemployment has increased, although according to him, the figures are exaggerated. When the global crisis affected Georgia in 2008, the number of unemployed went up by 40 000, which represented a 1% increase. Accordingly, a 1.7% increase would have to mean a loss of 60 000 jobs this year, which is unrealistic, M. Aleksandria has stated.

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