Baku: Azerbaijan’s unemployment rate is projected to see a gradual decline over the coming years, according to a forecast by the Economist Intelligence Unit (EIU), as reported by APA-Economics. The EIU, a reputable research and analysis division of The Economist Group, has provided insights into the country’s employment trends.

According to Azeri-Press News Agency, the unemployment rate in Azerbaijan has shown stability in recent years. The EIU forecast indicates that starting from 2025, the unemployment rate will begin to decrease. The projections suggest that unemployment will be at 5.3% in 2025, dropping to 5.2% in 2026, 4.8% in 2027, 4.5% in 2028, and reaching 4.4% by 2029.

The State Statistical Committee has documented that Azerbaijan’s unemployment rate was 5.6% in 2022, and it has slightly decreased to 5.5% in 2023 and 2024.