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Tuesday March 19 2024

Population's incomes increase

18 July 2019 19:07 (UTC+04:00)
Population's incomes increase

By Leman Mammadova

In the first half of this year, incomes of Azerbaijani population amounted to 27.355 billion manats ($16.10 billion).

According to the State Statistical Committee, this is 6.6 percent more than the same period in last year.

Per capita income increased by 5.7 percent over the year to 2,768.6 manats ($1,629).

After making all payments, 25.131 billion manats ($14.79 billion) remained at the disposal of the population (an increase of 6.7 percent). As per capita, the figure amounted to 2,543.5 manats ($1,496), up by 5.8 percent.

The average salary in the country was 583.7 manats ($343) In January to May 2019, which is 7.9 percent more than the same period last year. In the oil sector, the average salary was 3,168.5 manats ($1,864), in the non-oil sector - 524.7 manats ($308). At the same time, the average salary made 471.9 manats ($277) and 730.3 manats ($429) in the public and private sectors.

In accordance with the presidential decree dated on June 18, 2019, minimum monthly salary in the country increased from 180 manats ($105) to 250 manats ($147). The decree comes into force since September 1, 2019.

The average monthly wage in Azerbaijan amounted to 544.1 manats ($320.15) in 2018, which is 3 percent more than in 2017.

As for Baku, the average monthly salary amounted to 788.1 manats ($463.72) last year.

The highest average monthly wage was observed among employees of enterprises and organizations engaged in industrial, financial and insurance activities, professional, scientific and technical activities, as well as among employees in the ICT and construction sector.

The lowest wages were recorded in health, social services, agriculture, education, recreation, entertainment and art spheres.

The situation in the labor market is constantly changing. The jobs that 10-20 years ago consistently ranked in the top 10 highly paid and significant, today are losing demand. This is normal, because the needs of humanity are changing, new technologies are emerging, science is developing.

All this has a direct impact on the global labor market. The highest paying jobs in the world today include surgeons, anesthetists, top managers, pilots, dentists, market analysts, lawyers, IT specialists, advertising managers, breeders and genetic engineers.

However, the most demanded professions in Azerbaijan are programmers, construction specialists, information security analysts, financial consultants, and physiotherapists.

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