Author: Tatyana Gracheva
Uzbekistan and Kazakhstan discussed cooperation in employment sector
Ra’no Turdieva, Deputy Minister of Employment and Poverty Reduction of Uzbekistan, met with Askar Biakhmetov, Deputy Minister of Labor and Social Protection of the Republic of Kazakhstan. The meeting focused on expanding cooperation between the two ministries in the areas of employment, professional training, and labor inspections. As a result of the meeting, the parties […]
Read moreGalt & Taggart forecasts unemployment to drop to 13.8%
Unemployment will decrease to 13.8% in 2024, from 16.4% in 2023, – according to the report published by Galt&Taggart. As of the document, unemployment rate stood at 13.8% in 3Q24 The unemployment rate reduced by 1.8ppts y/y to 13.8% in 3Q24, though it saw a slight increase from 13.7% in 2Q24. During this period, the […]
Read moreIs a better living standard implied by wage increase?
The Statistical Office of the Republic of Serbia (RZS) reports that the average gross salary for September 2024 was 132,783 dinars, while the average net salary (after taxes and contributions) reached 96,115 dinars. The median net salary (75,117 dinars) is earned by half of the employees in Serbia.
Gross and net salaries in January-September 2024 grew by 14.5% nominally and 9.3% in real terms, compared to the same period last year. The increase of the average gross and net salaries for September 2024 was 13.0% nominally and 8.4% in real terms compared to the same month in the previous year.
Traditionally, they recorded the highest net salaries in the Belgrade region, particularly in the municipalities of Stari Grad and Vračar (170,558 and 163,757 dinars). Savski Venac (158,414 dinars) and Novi Beograd (155,034 dinars) were the following.
Jablanica District had the lowest average salaries in Serbia (71,652 dinars), particularly in Bojnik (63,622 dinars), while Medveđa had the highest salaries in the district (76,929 dinars).
According to Professor Ljubodrag Savić from the Faculty of Economics in Belgrade, there are several factors contributing to income disparities in Serbia.
The first one is the location of the most significant company offices in Belgrade (foreign companies, trade firms, consultancy agencies, universities, government institutions, and public sector organizations such as Elektroprivreda Srbije). Nevertheless, there is income inequality even in Belgrade itself.
Savić explained the lowest reported salary in Bojnik (63,622 dinars) by Serbia’s population decline. Nevertheless, living costs in these regions are significantly lower than in areas like Stari Grad, Belgrade.
The income earned by 50% of Serbia’s workforce is reflected by the median salary of 75,117 dinars (approximately €700). According to Savić, this amount might not seem small in euros, but the situation changes radically when you convert it into dinars and assess their purchasing power.
Savić explained that incomes seem to rise rapidly, especially expressed in euros, but inflation often outpaces salary growth in dinars, because the euro has remained at 117 dinars for the past 10–15 years. So, constant euro-denominated exchange rate makes the figure in euros appear larger, though living standards don’t necessarily improve.
The real impact of inflation on purchasing power pointed out by Savić can be revealed by looking back a decade.
He compared the purchasing power of €100 ten years ago when converted to 11,700 dinars with today’s one and found that the difference in value is stark, whether it’s sugar, milk, or other products.
According to him, this demonstrates that economic well-being is not always accurately indicated by the euro figure.
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Read moreLvov IT Cluster expects Ukraine’s exports of IT services to drop 4%-6% in 2024
Exports of IT services are expected to decrease 4%-6% to $6.3 billion-$6.4 billion in 2024 year-on-year, Lvov IT Cluster said. “The decline in IT service exports which began in 2023 is continuing. Even with an optimistic scenario, it will decrease by at least 4% at the end of 2024 compared to 2023. With a pessimistic […]
Read moreDoes wage growth imply a better living standard?
The average gross salary calculated for September 2024 was 132,783 dinars, while the average net salary (after taxes and contributions) amounted to 96,115 dinars, according to the Statistical Office of the Republic of Serbia (RZS). Half of the employees in Serbia earned 75,117 dinars, which represents the median net salary. The growth of gross and […]
Read moreTraining of IT specialists, export of information technologies, AI training: Government considers IT industry development issues
Minister of Digital Development, Innovation and Aerospace Industry Zhaslan Madiyev at the Government session reported on the ongoing work on the development of the IT-industry, primeminister.kz reports. In particular, he reported that in 2024 the IT-industry of Kazakhstan continued its dynamic growth. The number of IT-companies reached 18 683. Growth of 16% over the last three […]
Read moreUnemployment rate stood at 13.8% in 3Q24-Galt&Taggart
The unemployment rate reduced by 1.8ppts y/y to 13.8% in 3Q24, though it saw a slight increase from 13.7% in 2Q24. During this period, the number of hired employed individuals increased by 3.3% y/y, accounting for 69.2% of total employment, while self-employed persons rose by 2.4% y/y- Galt&Taggart monthly review reads. Notably, labor force participation […]
Read moreAdvice for growing your professional circle in Tbilisi’s dynamic business scene
Tbilisi’s growing business environment has made Georgia’s capital a hub for entrepreneurs and freelancers.
Attending events tailored to your field is one of the easiest ways to grow your network. Meetups and conferences for industries like tech, marketing, design and various community events where you can meet potential collaborators are held in Tbilisi.
Another useful place is coworking spaces where professionals naturally become connected due to shared environment that encourages collaboration and informal interactions.
You should also use social media and online platforms actively. For example, there are several groups dedicated to professionals in Tbilisi in LinkedIn and Facebook. You should join them to keep up-to-date with networking opportunities and to get connected with others in your industry or take part in discussions, one-on-one conversations or share insights.
Participating in volunteering and local projects can help you build relationships, contribute to the community and meet professionals with shared values. There are a lot of different NGOs in Tbilisi that can lead to strong, long-lasting connections with others trying to reach a common goal. You can try mentoring or consulting for startups if you have experience or skills that could benefit others, as guidance from experienced professionals is appreciated by many small businesses in Tbilisi. You will not only build goodwill but also become connected with driven individuals who may become valuable contacts by offering your expertise.
When you make connections, don’t forget about maintaining them. After the first meeting someone at an event or coworking space, continue the communication with a simple message or email expressing your enjoyment of the conversation and suggesting to meet for coffee to continue discussing shared interests. Such consistent messages will keep relationships alive. Hosting informal gatherings such as a small dinner party, coffee meetup, or after-work drinks can help you deepen relationships with people you’ve met. Stronger professional relationships are often born from personal interactions with others in a relaxed setting.
In conclusion, don’t be intimidated to expand your professional circle. You should build meaningful connections that benefit your career by attending networking events, utilizing coworking spaces, engaging on social media and volunteering. The key factor is to be proactive and genuine in your approach. Take advantage of the opportunities Tbilisi’s dynamic business scene provides, and you’ll be well on your way to growing a strong professional network.
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Read moreEmployment, Mobility and Labour Market Dynamics in Ukraine – Thematic brief series: Livelihoods and economic recovery
Unemployment Among Recently Displaced Ukrainians Reaches 24 Per Cent, IOM Report Shows As Ukraine marks a thousand days since the start of the full-scale invasion, the International Organization for Migration (IOM) has released a new report detailing the profound impact of nearly three years of war on the employment, mobility, and labour market dynamics in […]
Read moreDual education or hiring foreign workers?
The Serbian Chamber of Commerce (PKS) is marking Dual Education Month in November, which also commemorates a decade since this model was first introduced in our country. Since then, more than 19,000 students have either completed or are currently participating in this system, with the involvement of over 1,100 companies. However, the PKS Centre for […]
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