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Kazakhstan to face growing unemployment due to baby boom

27 november 2013, 13:40
0
Photo courtesy of perthnow.com.au
Photo courtesy of perthnow.com.au
The current baby boom in Kazakhstan may entail unemployment after 2020, Newskaz.ru reports, citing Mr. Yerbol Orynbayev, Vice PM, as saying November 27.

“Baby boomers are expected to be a problem in the country’s labor market as early as in 2023”, he said, adding that “Kazakhstan has been maintaining a high birth rate in the recent years”. The Vice PM provided no statistics.

According to him, “the current situation in the labor market is favorable as Kazakhstan saw a decline in birth rates in the 1990s”.

In October the country’s media reported that the unemployment rate in Kazakhstan stood at 5.2%.

Tengrinews reported earlier, citing the country’s PM Serik Akhmetov, as saying in May, that only 5.6 million out of 8.4 million working people were covered with pension saving plans. The country’s population as of early October 2012 made up slightly over 17 million people.

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