Why is this important
Unemployment of 4.9% is at least 12 years old, a result of economic growth, job creation, and a decrease in labor migration. 760 thousand unemployed are a low level for 37.8 million people.
What happened
- Unemployment is 4.9% (-0.8 p.p.), the lowest since 2013;
- Labor resources — 20.35 million (+1.9%), employment — 14.81 million (+4.1%);
- Unemployed 760 thousand (4.9%);
- The peak in 2020 was 10.5%, followed by a decrease to 4.9%.
Indicators
- Population: 37.8 million.
- Labor resources: 20.35 million (+1.9%) — people of working age (16-60 years old).
- Economically active: 15.57 million — working or seeking work.
- Employed: 14.81 million (+4.1%).
- Unemployed: 760 thousand (4.9%).
Employment structure
- Officially: 8 million (55%) — with a labor contract, taxes, social package.
- Informal sector: 4.8 million (33%) — without contracts, taxes (trade, services, construction).
- Abroad: 1.8 million (12%) — labor migrants in Russia, Kazakhstan, Turkey, Korea.
Reduction drivers
- Economic growth: +6% of GDP — creation of jobs in construction (New Tashkent, new buildings), services (tourism, HoReCa, IT), production (localization).
- Investments: $10+ billion annually — new plants, factories, infrastructure.
- Decrease in migration: 1.8 million abroad — part returned due to increased salaries (+19% in Uzbekistan).
- Youth programs: internships, training, support for entrepreneurship.
Context
- 4.9% — healthy level: full employment is considered at 3-5% unemployment. Uzbekistan has reached the lower border.
- Pandemic 2020: 10.5% — peak due to border closures, job cuts, and economic stagnation.
- Recovery: consistent decline from 10.5% to 4.9% over 5 years due to economic growth, investments, and reforms.
- Informal sector 33%: high share — the problem of lack of social protection, taxes. The government is working on legalization.
- Labor migration of 1.8 million: decreases due to salary increases in Uzbekistan, but remains significant (transfers of $13.9 billion for 9 months).
