Tue, 16 September
25.1 C
Yerevan
USD: 383.12 RUB: 4.62 EUR: 450.36 GEL: 141.63 GBP: 521.31

Armenian Central Bank predicts 6.1% rise in median salary in fourth quarter 2011

YEREVAN, December 23. /ARKA/. The Armenian Central Bank says in its money and credit program for the fourth quarter of 2011 that the median monthly salary in the fourth quarter of 2011 will rise by 6.1%.

The full-year salary rise is also projected at 6.1%. The projected growth will be due to ongoing productivity increase in the private sector since the beginning of the year, as well as to certain growth of wages in public sector. The program also forecast a 5% salary rise in the first nine months of 2012, due to the reduction in unemployment levels and productivity growth.

At the same time, despite the economic slowdown, the rise in demand for labor force will continue in the fourth quarter and will result in decline of unemployment. The average quarterly unemployment rate will decrease by 0.8 percentage points, reaching 6% in the 4th quarter.

As follows from the forecasts of the Central Bank, in the first nine months of 2012 the average unemployment rate will drop to 5.9%, down 0.4 percentage points compared to the same period in 2011. According to official data, the median monthly nominal wage in November of this year amounted to 114, 766 drams, having increased by 6.3% compared with November 2010. -0-

spot_img

POPULAR

3.6% inflation registered in Armenia in August

n the consumer market of Armenia, 12-month inflation in August of this year amounted to 3.6%, according to the report of the National Statistical Committee (NSC) of Armenia.

Insurance market of Armenia is in embryonic state

Insurance market of Armenia is in embryonic state

Ranking of Armenia’s most profitable banks in 2024

ARKA news agency has released a ranking of the most profitable commercial banks in Armenia in 2024.

Central Bank of Armenia initiates discussions on draft by-laws related to Law on Cryptoassets

The Central Bank of Armenia is set to conduct a public discussion on  the draft by-laws essential for implementing the Law on Cryptoassets, which became effective on July 4 of this year, as reported by the regulator's press service.

Regulation of cryptocurrency assets should adopt a pragmatic approach – Chairman of  Central Bank of Armenia

Martin Galstyan, the Chairman of the Central Bank of Armenia, asserts that a pragmatic strategy is essential to mitigate risks associated with the regulation of the cryptocurrency sector.

LATEST NEWS

spot_imgspot_imgspot_img