STC discloses unemployment rate in Azerbaijan

Azerbaijan's unemployment rate fell slightly from 5.4% to 5.3% by the end of September 2024, Azernews reports, citing the State Statistics Committee.

The number of unemployed individuals dropped marginally from 283.5 thousand at the beginning of the month to 283.2 thousand by its end. This marks a slight improvement after the unemployment rate remained steady at 5.4% since April of this year.

Recent data shows that the unemployment rate was higher last year, at 5.5%, before stabilizing earlier this year. The highest rate in recent years occurred in January 2021, when it reached 7.2%.

By October 1, 2024, Azerbaijan’s economically active population was recorded at over 5.3 million people, with about 5 million employed.

The data also revealed that 1.75 million people are salaried workers, with the state sector employing 878.3 thousand and the non-state sector employing 876.6 thousand. While 31.7 thousand individuals work in the oil and gas sector, the non-oil and gas sector employs over 1.7 million people, reflecting the diversification of the country's labor market.