The unemployment rate in Armenia decreased to 15.7 percent in the second quarter of 2018 from 17.8 percent in the same period of the previous year. The number of unemployed persons decreased by 23.4 thousand to 202.5 thousand while employment increased by 48.8 thousand to 1,090.3 thousand. Meanwhile, the labor force participation rate went up to 64 percent from 60.5 percent a year earlier. Unemployment Rate in Armenia averaged 12.05 percent from 1998 until 2018, reaching an all time high of 20.70 percent in the first quarter of 2011 and a record low of 6.30 percent in the first quarter of 2008.
Unemployment Rate in Armenia is expected to be 16.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Armenia to stand at 16.00 in 12 months time. In the long-term, the Armenia Unemployment Rate is projected to trend around 16.60 percent in 2020, according to our econometric models.