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Category: NEWS

13.09.2024

By: Tatyana Gracheva

Double-digit growth in turnover and production value in Georgia’s business sector is reported in Q2

As the National Statistics Office of Georgia said on Tuesday, a growth by 11.6 percent year-on-year was shown by the total turnover of the business sector in Georgia in the second quarter of 2024 (₾53.6 billion ($19.93bln) and a 12.5 percent year-on-year increase was reached by the production value (₾20.5 billion ($7.62bln).
66.5 percent of the total turnover were constituted by large businesses as key drivers of the sector’s growth. 15.1 percent were made up by medium-sized businesses and 18.4 percent were contributed to small businesses.
Nevertheless, production value was distributed in a slightly different way: 46 percent were accounted for large businesses, 24.3 percent for medium-sized businesses and 29.7 percent for small businesses.
The total purchases of goods and services carried out by enterprises rose by 8.3 percent year-on-year and amounted to ₾28.3 billion ($10.52bln).
The average number of individuals employed in the business sector reached 769,900 employees (an increase by 4.4 percent). 43.6 percent of the total workforce were female and 56.4 percent were male.
According to the statistics office, large businesses employed the majority of people (43.6 percent), small business employed 36.5 percent and medium-sized businesses employed the remaining 20 percent.
A 3.4 percent increase compared to the same quarter of 2023 was shown by the total number of employees (724,000).
According to analysis of the distribution of employees by region, the highest percentage of employed individuals (65.7 percent) was in Tbilisi, then followed the Black Sea region of Adjara at nine percent and western Imereti region at 6.7 percent.
The average monthly remuneration reached ₾2,105.5 ($782.71) (an increase by ₾190.7 ($70.89) in the second quarter compared to the previous year.
Employed women earned ₾1,636.3 ($608.29) after an increase of ₾153.8 ($57.17) y/y.
The size of business influences average monthly salaries. For example, it is ₾2,538.1 ($943.53) in medium-sized businesses, ₾2,224 ($826.77) in large businesses and
₾1,653.6 ($614.72) in small businesses.
The leader in total turnover is the trade sector, including areas for repair of motor vehicles and motorcycles. Its share is 34.5 percent, closely followed by arts, entertainment and recreation (33.9 percent).
The leading sectors in terms of production value were manufacturing, trade, construction, transportation and storage (20.3 percent, 19 percent, 18.1 percent, and 9.1 percent, respectively). A 33.5 percent share was held by the rest of the sectors collectively.
The top three sectors for employment also included trade (wholesale and retail trade, repair of motor vehicles and motorcycles), manufacturing, and human health and social work activities with 28.4 percent, 11.8 percent, and 9.6 percent share of employees, respectively.

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13.09.2024

By: Tatyana Gracheva

Problems with employment of Ukrainians in Austria: why does simplified access to the labor market not change the situation?

Ukrainians living in Austria face numerous difficulties in finding employment. The simplified access to the labor market, while simplifying the situation, does not solve all the problems. Find out what obstacles affect job search and how many refugees have been successfully employed so far Despite the easier access to the labor market in Austria, many […]

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13.09.2024

By: Tatyana Gracheva

Micro and small companies earned less but employed more

In Serbia, 14,309 small enterprises and 93,573 micro-sized companies submitted financial reports to the Serbian Business Registers Agency in 2023. While small enterprises saw a 6.6% annual growth, the number of micro companies actually decreased by 2.6%. In the total number of business entities in the country, small enterprises account for about 12.5%, while micro-enterprises […]

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13.09.2024

By: Tatyana Gracheva

Employment rate of college graduates in Kazakhstan reaches 79%

Minister of Education of the Republic of Kazakhstan Gani Beisembayev reported on the current state of the system of technical and vocational education in Kazakhstan at a government meeting,El.kz reports. There are 772 colleges in the country, where 565 thousand students study, of which 177 thousand entered this year. Dual education covers 91 thousand students, […]

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13.09.2024

By: Tatyana Gracheva

Georgia’s business sector sees double-digit growth in turnover, production value in Q2

The total turnover of the business sector in Georgia rose by 11.6 percent year-on-year in the second quarter of 2024, reaching ₾53.6 billion ($19.93bln), while the production value equalled ₾20.5 billion ($7.62bln), reflecting a 12.5 percent year-on-year increase. The total turnover of the business sector in Georgia rose by 11.6 percent year-on-year in the second […]

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06.09.2024

By: Tatyana Gracheva

New Work Permit Policy for Ukrainians Without Temporary Protection Takes Effect in Lithuania

Lithuania’s recent policy that restricts Ukrainians from working in the country without temporary protection unless they hold a residence permit has officially come into force. This decision means that as of September 1, 2024, Ukrainians without this status must obtain a residence permit to continue working in the country, Schengen.News reports. Previously, foreign nationals registered […]

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06.09.2024

By: Tatyana Gracheva

Big fluctuation of IT workers in Serbia

IT professionals in Serbia typically stay with a company for a few years on average, a trend largely influenced by the COVID-19 pandemic and the subsequent slowdown in the industry. While everyone hopes for market stabilization, experts in the sector remain divided on whether the future will bring even more pronounced workforce turnover. However, it […]

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06.09.2024

By: Tatyana Gracheva

Jordanian IT sector eyes promising opportunities in Kazakhstan

Jordanian companies in the communications and information technology sector are poised to capitalize on promising opportunities in the Kazakh market, according to Haitham Rawajbeh, the representative of the sector at the Jordan Chamber of Commerce, Petra reports. In a meeting with Kurmangali Amankosov, the Middle East representative of the Qazaqstan Investment Corporation, Rawajbeh emphasized the […]

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06.09.2024

By: Tatyana Gracheva

In Q2 2024, unemployment in Georgia decreased to 13.7%

In the second quarter of 2024, the unemployment rate in Georgia decreased to 13.7%. GEOSTAT stated that in the same period, the number of employees was more than 1.38 million, and the number of hired employees was 935.8 thousand. During the reporting period, 451.5 thousand people were self-employed, and 219.7 thousand people were considered unemployed […]

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06.09.2024

By: Tatyana Gracheva

IT workers fluctuate a lot in Serbia

The COVID-19 pandemic and the subsequent slowdown in the industry make IT professionals in Serbia typically stay with a company for a few years on average. In spite of hope for market stabilization, experts in the sector are not optimistic about the future because of workforce turnover.
The recruitment agency BPS Tech reports that certain job profiles, employees and companies follow different tendencies: some of them focuse on outsourcing and others develop their own products.
According to the first ones, one reason for this situation is the predominant orientation of the market itself towards outsourcing (estimated at around 80%). Another reason is the importance for candidates of leaving their personal mark on the company by working on products. This makes the average retention in product companies higher. Candidates working for outsourcing companies often lack a sense of belonging and purpose, as they predominantly work on existing solutions that aren’t as interesting. Challenging projects, opportunities for advancement, variety of work/projects, work environment, salary and benefits are the most important factors influencing employee retention in a company.
Joberty, a platform connecting employers and candidates in the IT sector, reports that the average tenure of IT professionals in companies remains between two and four years. Nevertheless, the situation in the IT sector has changed significantly.
The demand for IT professionals increased during the COVID-19 period due to an expansion of IT projects and digitalization.
According to Milan Šolaja, Executive Director of the Vojvodina ICT Cluster, now employees value stability and job security more than in the pre-COVID period of somewhat reduced growth when workforce turnover was stronger.
As Miloš Turinski, PR Manager of the employment and career development center Infostud, says, a general tendency for the average time IT workers in Serbia work in one company has decreased.
He assesses that employee retention is longer in larger companies or well-known brands that often offer more stable jobs, better benefits and opportunities for professional development than in smaller companies and lesser-known brands.
The duration of tenure is primarily influenced by the seniority of an employee, as junior workers change jobs more quickly as they are still in the phase of discovering their interests and possibilities in the industry. Conrtavertly, seniors usually stay longer, especially if they are satisfied with their role and involved in the development of the team and company, but they too may be inclined to change if they encounter better opportunities or challenges.
Corporate culture is extremely important for more experienced candidates, which makes them stay in companies for an average of five to seven years, sometimes even longer.

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