Author: Tatyana Gracheva
The increase of business sector turnover attained 10% in Q4
The increase of the volume of business sector turnover reached 10.0 % and amounted to 62.0 billion GEL in the IV quarter of 2024, compared to the same quarter of the previous year. Meanwhile, the growth of production value equaled 23.5 billion GEL in the reporting period (10.8 % more year-on-year).
Overall, 67.6 % of total turnover accounted for large businesses, 14.9 % for medium size businesses, and 17.5 % for small business in the reporting period. Meanwhile, large businesses generated 43.8 % of total production value, 25.1 % – medium, and 31.1percent – small businesses.
Totally, purchases of goods and services attained 33.2 billion GEL (year-on-year 8.6 % more) in the reporting period, while the purchase of goods and services for resale reached 18.8 billion GEL (year-on-year 0.6% less). In October-December 2024, business sector employed 811.8 thousand people (up 3.8 %мyear-on-year). 43.7 % of them were female and 56.3 % were male.
Out of 764.2 thousand employees, 41.7 % worked for large businesses, 21.5 % for medium, and 36.9 % – for small businesses. Enterprises reported the total personnel costs of 5 536.6 million GEL (year-on-year 10.9 % more). In the reporting period, an employee earned 2 367.0 GEL a month (170.8 GEL increase year-on-year) on average, while women earned 1 847.3 GEL (159.7 GEL increase year-on-year) a month. Average monthly salary in large business was 2 466.2 GEL, in
medium business – 2 750.1 GEL, and 1 969.8 GEL in small business.
The highest share (35.1%) in the total turnover in business sector in the reporting period accounted for the arts, entertainment and recreation. Then followed trade sector (including repair of motor vehicles and motorcycles) (33.7%), construction (7.0%), manufacturing (6.9%), transportation and storage (4.6%), and other sectors (12.7%).
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Read moreFive more foreign nationals got Neo Nomad Visa from Kazakhstan
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Professionals can reside in Kazakhstan for up to one year while working remotely for foreign employers on this visa. The Ministry of Tourism and Sports reported the following requirements on March 11: a stable monthly income of $3,000, health insurance, and a certificate of no criminal record.
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Only five people previously received the Neo Nomad Visa: a U.K. citizen working in the energy sector and citizens of South Korea and Singapore.
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Read moreBusiness sector turnover up 10% in Q4
In the IV quarter of 2024, compared to the same quarter of the previous year, the volume of business sector turnover increased by 10.0 percent and amounted to 62.0 billion GEL. The increase was observed in the production value of the business sector as well. In the IV quarter of 2024, production value equaled 23.5 […]
Read moreIn Serbia unemployment rate achieved 8.6% in Q4 2024
As the National Institute of Statistics reported yesterday, the number of unemployed people in Serbia in the fourth quarter of 2024 was 273,100 (unemployment rate of 8.6%).
The previous data showed that the number of employed people equal to 2,894,900, and an employment rate of 51.4%.
Data from the Labour Force Survey report that the population outside the labor force was 2,462,200 people (43.7%).
The increase of the number of employed people is 50,700, compared to the fourth quarter of the previous year. Nevertheless, the decrease of the number of unemployed people is 11,600, and the downfall of the number of people outside the labor force is 65,300.
The increase of the employment rate is 1.1 percentage points, while the decrease of the unemployment rate is 0.5 percentage points. The rate of the population outside the labor force decreased by one percentage point.
The number of employed people decreased by 28,600, compared to the third quarter of 2024, while the number of unemployed increased by 16,000, and the number of the population outside the labor force raised up by 6,300.
11.9% was the overall informal employment rate. Agricultural sector demonstrated a rate of 48.5% and non-agricultural sectors – 6.8%.
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Read moreA surge of the demand for Blue-Collar Workers makes Kazakhstan Boost Vocational Training
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As he stated, 979,000 job seekers were employed in Kazakhstan, including 714,000 individuals who secured permanent jobs, in 2024.
The aim of Kazakhstan’s Labor Market Development Concept is to increase the number of high-quality, well-paid jobs from 2.5 million in 2024 to 3.8 million by 2029 with the help of vocational training programs.
67,500 people took part in short-term vocational courses in 2023.
One of them is the Skills Enbek online training platform. 57,700 people used it and 14,600 secured jobs after completing one of 858 online courses (311 are free).
The statistics show that the total demand for labor over the next six years is estimated at 1.6 million workers. Biakhmetov added that around 900,000 jobs will require vocational education, including 400,000 positions in blue-collar professions.
Meanwhile, steps are taken by the government to reduce reliance on foreign labor. As Svetlana Zhakupova, Minister of Labor and Social Protection, announced, they will reduce Kazakhstan’s annual foreign labor quota from 22,000 to 15,000 in 2025.
The government’s priorities are to develop workforce through training initiatives and employment programs and to ensure sufficient skilled labor for the country’s growing economy, as Kazakhstan continues to modernize its labor market.
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Read moreUnemployment rate at 8.6% in Q4 2024
In Serbia, in the fourth quarter of 2024, the number of unemployed people was 273,100, with an unemployment rate of 8.6%, the National Institute of Statistics reported yesterday. The number of employed people was 2,894,900, with an employment rate of 51.4%. According to data from the Labour Force Survey, the population outside the labor force […]
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