Official Unemployment Rate in Armenia Highest Among EAEU Countries

The number of registered unemployed in the employment service centers of the Eurasian Economic Union (EAEU) countries reached 827.2 thousand by the end of October 2023, representing an 11.9% decrease compared to 2022. In Kazakhstan, the unemployment rate stands at 3.0%, in Kyrgyzstan at 2.6%, in Russia at 0.6%, and in Belarus at 0.1%. The total number of unemployed in the EAEU makes up 0.9% of the workforce, down from 1% in 2022.

In Armenia, the official number of unemployed registered in the employment service by the end of October 2023 was 47,142, which constitutes about 3.4% of the country's entire workforce. Over the past year, the number of officially registered unemployed has decreased by 6.6%, while the number of job seekers has decreased by 11.4%. This decline is mainly attributed to the influx of relocating individuals to Armenia. The demand they created has stimulated activity in the trade and service sectors. Employment in the restaurant and hotel industry has increased by 24%, while in manufacturing, the growth has been 10%.