Armenia Ranks in Labour Market Resilience Index: Which Position Does It Hold?

Armenia holds the fifth position in the Labour Market Resilience Index. According to TASS, Whiteshield Partners, a consulting company specialized in the development of global strategies and public policies, has presented its Global Labour Resilience Index (GLRI) for 2022 in collaboration with the Global Alliance in Management Education (CEMS).

The GLRI 2022 index developed by Whiteshield Partners evaluates which countries are best prepared for the future in the employment sector. Along with structural factors of vulnerability, the report presents the ranking of countries based on their ability to mitigate the effects of crises, recover afterward, create jobs, and adapt to future prospects.

Regional analysis shows that the countries of Central Asia and the South Caucasus have achieved the fourth level of labour market resilience, demonstrating stable improvements over the last five years. Russia tops the ranking (59.7 points), followed by Georgia (59.4) and Kazakhstan (59.3). Turkey and Armenia rank fourth and fifth in the GLRI, scoring 58.0 and 57.2 points, respectively. The lowest scores in the region were recorded in Kyrgyzstan (55.7) and Tajikistan (50.2). Azerbaijan has successfully made progress with a GLRI score of 56.9 over the last five years. Significant improvements in the structural framework have helped the country rise more than 30 positions in the GLRI ranking.

Christopher Pissarides, special advisor and director of Whiteshield Partners, and a Nobel laureate in Economics, stated, “The GLRI assesses the resilience of labour markets and highlights key sectors for enhancing such resilience. One of the most pressing issues is the need for collaboration between the public and private sectors to eliminate the long-term consequences of any disruptions in labour markets through strategic policy reform development and implementation.”

Fadi Farah, founder and partner of Whiteshield Partners, emphasized, “Crises like the Covid-19 pandemic prompt active measures to reduce disruptions in labour markets. Policymakers need to transform temporary or short-term solutions to the problems into structural changes during the recovery phase.”

Whiteshield Partners advisor Altynay Arapova noted, “Despite the disruptions caused by the Covid-19 pandemic, Azerbaijan was able to rank high in the labour market due to its strong performance.”

The GLRI index by Whiteshield Partners is presented annually in Davos and serves as a guide for both public and private sectors in the development of policies aimed at increasing inclusivity in the labour market and enhancing efforts to form a resilient labour market, especially under unpredictable economic, social, and medical crises.