As of the 1st of April this year, the number of economically active population exceeds 4.7 million people. Given its busy section (4,459 thousand), unemployment in the country amounted to 5.15% of the economically active population.
According to official estimates, at the beginning of April 2013, in Azerbaijan there are 242.4 thousand unemployed, which is 5.5 thousand less than in the first quarter of 2012. A year earlier, the official unemployment rate in Azerbaijan on the methodology of the International Labor Organization was 5.3%.
On the 1st of March this year, the number of employed persons in Azerbaijan amounted to 1 470.8 thousand people, of which 677.4 thsd are employed in the private sector. It is noteworthy that statistical data on the number of self-employed workers do not coincide with the statements of state bodies on the legalization of more than 100 thousand concealed private sector jobs.
While there is no answer to the question, if in the past 12 months actually registered were labor relations with about 150 thousand workers employed, why this is not reflected in the statistical treatment of employers.
On April 1, the status of unemployed was recorded for 37.6 thsd people, about 10% of whom receive unemployment benefits. The average size of the unemployment benefit is 250 manat, with the average monthly salary in the country is about 400 manat. - 08B-
Economics
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The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas The State Oil Company of Azerbaijan (SOCAR) has signed an agreement with Union Energy to acquire a 10% equity stake in the Tamar gas field, one of the largest offshore gas projects in the Mediterranean, SOCAR said in a statement on Wednesday.projects in the Mediterranean, SOCAR said in a statement on Wednesday.
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On January 30, Azerbaijani President Ilham Aliyev has signed a decree approving the State Program for the Improvement of Transport Infrastructure in Baku and Surrounding Areas for 2025-2030, aiming to modernize the capital’s urban mobility and reduce congestion, the presidential press service said on Tuesday.
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Goldman Sachs has revised its oil price forecasts, raising its projections for Brent and Azeri Light crude by $2 per barrel for both 2025 and 2026, setting the estimate at $78 per barrel. The adjustment reflects expectations of tighter supply conditions driven by geopolitical risks, including U.S. sanctions affecting Russian oil production and potential future restrictions on Iranian crude exports.
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Azerbaijan Railways (AZD) has launched rail transit shipments from Zira Port, located 45 kilometers east of Baku, strengthening the country's position as a logistics hub on the Middle Corridor.
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