Central Bank warns of labor market pressure from population growth

Citing data from the Ministry of Employment and Poverty Reduction, the report noted that as of July 1, 2025, the number of employed persons stood at 14.6 million, while the number of unemployed reached 800,000.

The population not engaged in the labor market – including school students, pensioners, and others – amounted to 22.5 million, which represents 59.4% of the total population. Among them, 12 million are of working age. In other words, calculations show that nearly 6 out of 10 people in the country remain outside the labor market.

As of July 1, Uzbekistan’s population reached 37.86 million.

The report emphasized that population growth and the rising share of young people could put additional pressure on the labor market in the coming years. While this may support economic growth, it will also necessitate the creation of new jobs.

“At present, the number of people of working age is growing slowly, but the demand for labor is rising sharply. This is affecting employment, wage levels, and the economy as a whole,” the report stated.

It was also highlighted that in recent years, the number of people of working age (15–64) has increased significantly. For example, while the growth rate stood at 0.8% in 2022, it reached 1.4% in the first quarter of 2025.