As of January 1 of this year, the total number of employees was 1 million 516.1 thousand, which was 6,000 or 0.39% more than the year before.
According to the committee, at the beginning of this year 884.4 thousand people worked in the public sector. In state institutions and enterprises the number of employees decreased by 15.8 thousand (-1.8%). In the private sector in 2014, the number of employees increased by 21.8 thousand or 3.5%.
The government states that in 2014 due to his support for the private sector over 100,000 new jobs were opened and the unemployment rate fell to 5%.
According to estimates of the SCS, the average monthly wage in the economy of Azerbaijan on an annualized basis increased 5% to 444.3 manat. ---08D
Economics
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Natural gas prices in Europe surged to their highest level since October 2023 on Friday, reflecting expectations of increased demand due to an impending cold spell in the region.
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U.S. President Donald Trump’s proposed energy and trade policies could lead to a prolonged decline in global oil and gas prices, potentially triggering economic instability in Azerbaijan from 2026 onward, unless significant structural reforms are implemented, economist Gubad Ibadoglu warned in a recent analysis.
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Azerbaijan has taken a step toward diversifying its agricultural sector by launching the country’s first commercial banana production, with local producer Fruitland introducing tropical fruits to the domestic market.
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Azerbaijan, Georgia, Turkey, and Bulgaria have agreed on the draft text of a memorandum of understanding in the field of green energy transmission, marking a significant step in the development of sustainable energy ties in the region. The document aims to expand energy exchange between the countries and establish a legal framework for the Green Energy Corridor project.
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