Number of People with Unemployed "Status" Decreased by 21%
The official status of unemployed in Azerbaijan is at 28,893 citizens (minus 21% at the beginning of the year), - the State Statistics Committee said. Most of the people with a "status" of unemployed live in Baku, which is about 11 200 people. In the Nakhchivan economic region citizens are deprived of all such status.
Within 10 months of this year the Ministry of Labor and Social Protection held job fairs, where 161 employers provided 16,781 job vacancies. Through these fairs directions for work were received by more than 4,800 unemployed. Another similar fair is held today, November 21 in Sumgait.
On November 1 of this year, unemployment benefits (average 268.3 manat) are received by 1,417 persons, which is 2.2 times more than in the beginning of the year.
According to the methodology of the International Labor Organization, in Azerbaijan unemployed are 238,500 people, with 4,828,300 members of economically active population. Many unemployed do not apply to the Employment Service under the Ministry of Labor, because they do not trust them: Contrary to the law, many employers do not provide information about job vacancies, and information available in a database includes only low-paying jobs that do not require training. --08D--
Economics
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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.
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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.
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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.
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