“The number of employment contracts in the private sector has increased by 110,000 (17 percent) since the beginning of this year,” Babayev added.
The minister stressed that currently, 750,000 people work in the private sector upon an employment contract.
“The number of employment contracts in the public and private sectors grew by seven percent,” Babayev said. “The number of employment contracts increases as a result of diminishing the scope of the 'shadow economy' and the legalization of informal employment.”
"An increase in the number of employment contracts led to an increase in the Wages Fund,” the minister added. “The Wages Fund grew by eight percent in the country during six months of 2020. This is important in terms of expanding the scope of formal employment."
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