For the first time in many years Azerbaijan recognized the growing number of unemployed. Compared with the first quarter of the year, the number of unemployed increased in the second quarter by 0.5%.
According to the State Statistics Committee, in the second quarter of this year in Azerbaijan on the methodology of the International Labor Organization, there were 237,300 unemployed, which is 1,300 more than in the first quarter.
According to official statistics, the unemployment rate is 5%. Busy, that is, having a certain income, are considered 4,556,500 people. In the second quarter of 2010 the number of unemployed persons was 259,300, and this figure has declined each quarter.
The government claims that in the first half of this year 65 100 new jobs were created in Azerbaijan, 52 800 of which are constants. The region accounts for 69.3% of new jobs. It is noteworthy that in the context of these statements, as compared to the beginning of the year the number of workers employed in the country's economy grew by only 1,200 people and reached 1,511,300. --08D--
Economics
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On September 20, 2024, Volts Energy Ltd., an engineering company based in Abu Dhabi, and Azerbaijan’s Turan Energy LLC announced the creation of a new joint entity, TuranVoltsEnergy. This venture will focus on EPC (Engineering, Procurement, and Construction) projects in renewable energy and energy storage systems within Azerbaijan.
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The number of passengers traveling by air from Azerbaijan has seen a significant increase in 2024, rising by 26.7% from January to September compared to the same period last year. According to the State Agency for Tourism, a total of 2,548,897 people used air transport services to travel to 40 countries during this period.
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Azerbaijan’s prolonged border closures, approaching five years, have taken a profound toll on the labor market, particularly in border regions, where cross-border trade and services were once critical economic drivers. Official data highlights the stark disparity between the growing labor force and the lack of new job creation in these areas, underscoring the social and economic challenges faced by residents.
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Azerbaijan’s food imports have surged to unprecedented levels, with a significant rise recorded in the first nine months of 2024, according to data from the State Customs Committee. Food imports for January-September reached USD 1.755 billion, marking an 11.4% increase over the same period last year. This represents a USD 179.7 million increase compared to 2023, setting a record for food imports in the country’s history. Over the past decade, food imports have more than doubled, rising by 2.4 times, with a notable 52.5% growth in the last five years alone.
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