Mongolia’s unemployment rate increases by 10.6 percent - News.MN

Mongolia’s unemployment rate increases by 10.6 percent

Mongolia’s unemployment rate increases by 10.6 percent

Applications for Mongolian unemployment benefits have increased due to the pandemic closures. The number of registered jobless people increased by 10.6 percent in January-May, 2020 compared to same period last year. In addition, the number of active job seekers increased by 4.5 percent and number of employed fell by 0.2 percent in the first five months of 2020.

Therefore, a total of MNT 475.2 billion to 2.2 million people for pensions and benefits has been distributed for the same period.

Spending of Mongolia’s Social Insurance Fund increased reflecting the rise of MNT 129.8 billion for pensions and MNT 31.8 billion for unemployment benefits.

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