TRENDS IN ARMENIA’S LABOR MARKET AND AN ECONOMETRICANALYSIS OF WAGES

This study explores the prevailing trends in Armenia’s labor market. Based on anonymized data from the 2023 sample survey of households in the Republic of Armenia, a multiple regression model was constructed to assess the impact of the worker’s gender, level of education, and several other factors on the average nominal wage. According to the model, education in Armenia has a significant but weak positive effect on wages. On average, women's wages are 120,308 AMD lower than those of men. Based on annual data from 1996 to 2024, the results of an ARDL class model show that a 1% increase in GDP leads to a 0.46% increase in the average wage in the current year and a 0.49% increase in the following year.