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Thursday, 30.06.2016, 09:42
After six months of debates, Lithuania’s Seimas (parliament) on June 21st adopted a new much-disputed Labor Code, which, if signed into law by President Dalia Grybauskaite, will come into effect from 2017, informs LETA/BNS.
Keyword tags: Analytics, Employment, Labour-market, Legislation, Lithuania, Markets and Companies
According to Statistics Estonia, there were about 8,300 job vacancies in the enterprises, institutions and organisations of Estonia in the 1st quarter of 2016. The number of job vacancies increased by 25% compared to the previous quarter and by 14% compared to the 1st quarter of 2015.
The increase in labor costs and reduced profitability are affecting first and foremost the branches of the economy with a lower value added, and should prompt businesses to invest in undertakings offering higher value added, the Bank of Estonia says, reports LETA/BNS.
Lithuania's unemployment rate stood at 7.6% in early June 2016, down by 0.6 percentage points compared with a month ago and down by 0.9 points year-on-year, figures from the country's Labor Exchange showed on June 3rd, cites LETA/BNS.
The European Commission calls on Lithuania to deal with labor market problems, particularly a decline in the working age population, and to improve the coordination of innovation policies and to encourage the development and absorption of new technologies, informs LETA/BNS.
Results of the Labour Force Survey conducted by the Central Statistical Bureau (CSB) show that, in the 1st quarter of 2016 in Latvia there were 889.2 thousand employed persons or 61.0% of the total population aged 15–74.
Data compiled by the Central Statistical Bureau (CSB) show that, in the 1st quarter of 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.