More than a tenth of the unemployed - young people
In the third quarter of this year the number of unemployed in Azerbaijan decreased compared to the previous quarter by 1,300, reaching 244.2 thousand people - the Committee reported.
The unemployment rate among young people (15 to 29 years) in the second quarter of 2012 was 10.8%. The proportion of women among the unemployed during this period was 57.9%.
According to the State Statistics Committee, in the third quarter of this year in the country of employment counts 4 million 394.8 thousand people. This is 6.2 thousand more than in the second quarter.
The number of unemployed is based on the requirements of the International Labor Organization. Persons with income over a period of weeks are not considered as unemployed. In the third quarter, the unemployment rate was 5.5%. - 08B-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review