The restrictions lift by the Georgian government today will significantly improve Georgia's employment rate. The projected indicator has changed. It said 400-500 thousand people would have lost their jobs by the end of 2020.
The projected number dropped to 300,000 people by now.
As statistics expert Soso Archvadze says, following the new methodology, unemployment will still increase.
If we base on the old methodology, the unemployment will increase by 25-30%.
He says the tourism sector has the weakest link with about 12% of the economy,
"Tourism was the weakest sector, with approximately 12% of employees, equalling about 200,00 people,'' he says, adding tourism has a domino effect.
He does not expect any sharp increase in the unemployment rate.
"The intercity traffic has resumed, and thousands of minibus drivers have resumed working. Besides, restaurants will be allowed to serve visitors indoors… the economy will gradually recover," Archvadze said.
In his words, international studies report that 320 million people will lose jobs due to coronavirus pandemic.
Маri Chitaia
News Author