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Sunday 11.12.2016 | Name days: Valdis, Voldemārs, Valdemārs
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Latvia’s unemployment level has increased during the year

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Baltic news, News from Latvia, BNN.LV, BNN-NEWS.COM, BNN-NEWS.RUIn Q1 2016 unemployment rate in Latvia accounted for 10.3 %. Compared to the previous quarter, unemployment rate grew by 0.5 percentage points, while during the year the indicator rose by 0.1 percentage points.

In Q1 2016, 101.6 thousand people aged 15–74 were unemployed – 1 thousand more than a year before (in Q1 2015 – 100.6 thousand) and 3.5 thousand more than in Q4 2015, according to the latest data from the Central Statistical Bureau of Latvia.

In Q1 2015, unemployment rate in Latvia was the same as average in the European Union (EU) – 10.2 % – while in Q4 2015 the indicator exceeded the EU average (9.1 %) by 0.7 percentage points. Since the 3rd quarter of 2014, unemployment rate in Latvia has been the highest among the Baltic States. In Q1 2016, unemployment rate in Estonia amounted to 6.5 %, while in Lithuania – to 8.4 %.

In Q1 2016, 45.5 % of all unemployed persons could not find work for 12 months or more. During the year, the share of long-term unemployed persons has grown by 1.8 percentage points, while as compared to Q4 2015 – by 0.8 percentage points. As number of unemployed persons increased, the number of long-term unemployed persons rose as well – from 44 thousand in Q1 2015 to 46.2 thousand in Q1 2016.In Q1 2016, youth unemployment rate accounted for 15.0 % – 0.2 percentage points more than a year ago, whereas 4 percentage points less than in Q4 2015.

During the year, number of young unemployed persons fell by 0.4 thousand and by 4.8 thousand, as compared to Q4 2015. Out of the total number of unemployed persons, 11.8 thousand or 11.6 % unemployed persons were young people aged 15–24; the share thereof in the total number of unemployed persons had dropped by 0.5 percentage points, as compared to Q1 2015, and by 5.3 percentage points, as compared to Q4 2015. In Q1 2016, 40.2 % of all young people were active. i.e., employed or actively looking for a job (unemployed), while 59.8 % of young people were inactive (mainly studying and not seeking a job).

In Q1 2016, 32 % or 467.1 thousand of population aged 15–74 were inactive. i.e., were neither employed not actively seeking a job. As compared to the previous quarter, number of inactive population has grown by 0.5 thousand or 0.1 %.

In Q1 2016, 18.1 thousand or 3.9 % of inactive population were discouraged to find a job. For comparison – in Q1 2015 the share of such inactive population accounted for 4.8 %, while in Q4 2015 – for 4.4 %.

Ref: 102.109.109.5792


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