Real Unemployment Rate in Armenia Closer to 45–50%

According to figures released by the RA Ministry of Labor and Social Affairs, 247,500 Armenia citizens are looking for work. This figure is noted in the draft “2012 State Program to Establish Employment,” which is included in the agenda of today’s cabinet meeting, reports local daily Haykakan Jamanak (“Armenian Times”).

The document states that only 88,300 of these job seekers are registered in the territorial agencies of the State Employment Service. However, experts assert that official figures don’t reflect the full reality since unofficial studies have shown that more than 500,000 “economically active” people are unemployed.

If we proceed from official figures of Armenia’s population, the above figure comprises more than 30% of “economically active” residents. But considering that official population figures are likewise distorted, the real level of unemployment in Armenia is closer to 45–50% of the population. This indicator places Armenia in the “leading” positions in the world in terms of unemployment.