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    Economics Kyrgyzstan

    Unemployment rate in Kyrgyzstan stands at 4.9% with 64,600 officially unemployed

    Unemployment rate in Kyrgyzstan stands at 4.9% with 64,600 officially unemployed

    In Kyrgyzstan, 64,600 people are officially registered as unemployed, with an additional 91,600 registered with employment services. The unemployment rate currently stands at 4.9%. During a session of the parliament committee for social policy, Deputy Ministry of Labor Jyldyz Polotova provided these figures and discussed two key social programs aimed at reducing poverty in the country.

    Photo: Unemployment rate in Kyrgyzstan stands at 4.9% with 64,600 officially unemployed 
    Source: Turkic World

    The Social Contract Program supported 12,800 families, providing each with KGS 100,000 ($1,130) over two years. Of these families, 12,777 are successfully running their projects. However, 23 families faced challenges and were unable to continue, citing reasons such as events in Kyrgyzstan's Batken region or the death of a family member.

    Another initiative offers interest-free loans of KGS 200,000 ($2,260) to eligible individuals. These programs are intended to decrease the poverty rate in Kyrgyzstan and improve the economic stability of its citizens.

    Earlier, Daryo reported that Uzbekistan's reliance on labour migration is influenced by its densely populated landscape and limited domestic labour market. The Oliy Majlis indicates that each year, approximately 650,000 Uzbek nationals complete their general secondary or vocational education. However, only a quarter of them pursue higher education, while the rest enter a job market that annually generates around 300,000 new jobs.

    This number falls short of accommodating the influx of new workers, leading to an unemployment rate of 6.8% by the end of 2023. The Ministry of Employment and Poverty Reduction of Uzbekistan also reports a poverty rate of approximately 11% as a result of this disparity.

     

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    14.05.2024, 11:00   Comments (0)   885
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