According to the labor force survey of the Q4 2022, the National Statistics Office informed that 1.2 million of the total population aged 15 and older are in the labor force. Number of workers increased by 2.8% from the same period last year.
Nationwide, 888.2 thousand or 42.1% of the population aged 15 and over are out of the labor force. 43.4 thousand or 4.9% of them are potential labor force who are ready to join the labor force. The unemployed decreased by 35% from the same period last year.
At the same time, the average monthly income of the household at annual prices reached MNT 1.8 million, which increased by 12.4% from the same period last year.
Structure of average monthly income of one household /National average/
National Statistics Office
In addition, as of the fourth quarter of 2022, 56.5 percent of the average income of households with a cash income of MNT 500-900 thousand per month is made up of pension and benefit income, which is a decrease of 6.3 percentage points from the same period last year.
The average monthly expenditure of one household was MNT 1.2 million in the quarter, which increased by 8.6% from the same period last year.