Analytics, Latvia, Statistics
International Internet Magazine. Baltic States news & analytics
Wednesday, 08.05.2024, 16:46
Unemployment in Latvia to drop to 9.4% this year
Print version
In spring this year the ministry said that the jobless rate could fall to 8.7% in 2016.
In its latest report, the Economics Ministry said the situation on the labor market continued improving but at a more moderate rate reflecting influence of negative demographic trends.
Employment will increase moderately in 2016 – by 0.8% or 7,100 employed persons compared to 2015.
The employment rate will be slightly above 62%. The steepest growth in the number of employees is expected in the sectors focused on domestic demand - commercial services and trade. The total number of employed persons in 2016 may reach 903,000.
Unemployment will keep falling and is expected to be close to 9.4%. The number of job seekers will decrease by nearly 4,000 year-on-year to 94,200 on average this year.
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