Youth unemployment is twice the average in Azerbaijan, said the Minister of Labor and Social Protection Salim Muslimov.
The Minister stressed that it is important to reduce this figure to the level of five percent. According to Muslimov, the average annual population growth rate is 1.2-1.3%. "The population is approaching 10 million people. However, about 26 percent of the population is young people," he said.
Note that, according to official data, as of September 1, 2016, 34,400 unemployed people were registered in Azerbaijan. 71D
Economics
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Azerbaijan's economy demonstrated robust growth from January to November 2024, with gross domestic product (GDP) rising by 4.7% compared to the same period last year, according to government data. By September, GDP had reached 92.83 billion manats (approximately $54.7 billion USD), reflecting significant progress in diversifying beyond oil and gas, a longstanding focus of economic policy.
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A recent report by the World Bank titled “Breaking Barriers for Women’s Employment in Azerbaijan” sheds light on the significant gender imbalance in the country’s labor market. While both men and women participate actively in the labor force, disparities in employment rates, job quality, and societal attitudes highlight the challenges women continue to face.
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Azerbaijan's consumer price index rose by 4.4% in November 2024 compared to the same month in 2023, driven by higher costs for food, beverages, and services, government data showed on Tuesday.
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Kazakhstan has unveiled plans to develop five major cross-border trade and transport hubs to enhance connectivity and boost economic ties with neighboring countries, Trade and Integration Minister Arman Shakkaliev said on Monday during a government meeting.
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