Unemployed rate decreased to 9.1 percent
Mongolia’s unemployment rate has been reduced to 9.1 percent with 115 thousand unemployed people in the first quarter of 2017.
Unemployed rate decreased to 9.1 percent. Mongolia’s unemployment rate has been reduced to 9.1 percent with 115 thousand unemployed people in the first quarter of 2017. This was due to the implementation of multiple job-creating projects and programs that came into realisation with Government’s policies on improving livelihoods and restoring the economy through the creation of jobs programs. Particularly, in order to improve the light industry through agriculture, low-interest rate loans amounted of USD 420 000 were granted to 10 major national manufacturers, such as “Gobi” JSC, and “Mongolian Cattle” meat factory etc. These national brands are expected to create more than 1800 jobs and 40 percent of them will be for women. Presently, three Mongolian companies are aiming to establish co-branding agreement with world-renowned brands by the fourth quarter of 2020.
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