Analytics, Education and Science, Employment, EU – Baltic States, Latvia
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Friday, 29.03.2024, 09:51
In 2017, Latvian unemployment rate fell to 8.7%
Compared to the 3rd quarter
of 2017, in the 4th quarter unemployment rate reduced by 0.4 percentage
points and constituted 8.1%. In the 4th quarter of 2017,
79.7 thousand people aged 15–74 were unemployed, which is
4.4 thousand or 5.2% less than in the 3rd quarter.
Since the 3rd quarter
of 2008, Latvian unemployment rate exceeds the European Union (EU) average
(except for the 1st quarter of 2015 when both indicators were
equal). In the 3rd quarter of 2017, Latvian unemployment rate
(constituting 8.5%) exceeded the EU average (7.3%) by 1.2 percentage
points. In the 4th quarter of 2017, Latvia still had the
highest unemployment rate in the Baltic states (5.3% in Estonia and 6.7% in
Lithuania).
Long-term unemployed persons
In 2017, the share of
long-term unemployed persons, i.e., those who have been without work for 12
months or longer, in the total number of unemployed persons declined by
3.8 percentage points – from 41.5% in 2016 to 37.7% in 2017. Over
the year, the number of long-term unemployed persons reduced by
7.4 thousand, and in 2017 it constituted 32.1 thousand.
In the 4th quarter
of 2017, the share of long-term unemployed persons in the total number of
unemployed persons constituted 32.5%. Compared to the 3rd quarter,
the indicator decreased by 7.6 percentage points. In the 4th quarter
of the year, there were 25.7 thousand unemployed persons and in the 3rd quarter
– 33.6 thousand.
Youth unemployment
In 2017, youth unemployment
rate constituted 17.0%, which is 0.3 percentage points lower than a year
ago (17.3% in 2016). Out of the total number of unemployed persons,
12.1 thousand or 14.2% were young people aged 15–24. During the year, the
number of young unemployed persons fell by 0.9 thousand, whereas their
share in the total number of unemployed persons grew by 0.6 percentage
points.
In 2017, youth unemployment
rate constituted 16.5%, which is 1.1 percentage points lower than in the 3rd quarter.
The number of young unemployed persons dropped by 2.7 thousand and
constituted 10.6 thousand or 13.3% of the total number of unemployed
persons (13.3 thousand or 15.8% in the 3rd quarter).
Since 2013, Latvian youth
unemployment rate was lower than the EU average. In 2016, Latvian youth
unemployment rate (constituting 17.3%) was 1.4 percentage points lower
than the EU average (18.7%). In 2017, Latvia still had the highest youth
unemployment rate in the Baltic states (12.1% in Estonia and 13.3% in
Lithuania).
In 2017, 39.7% of all young
people were active, i.e., employed or actively seeking a job (unemployed),
while 60.3% of young people were inactive (mainly studying and not seeking a
job).
In the 4th quarter
of 2017, 36.7% of all young people were active, while 63.3% inactive.
Inactive population
In 2017, 31.1% or
433.1 thousand people aged 15–74 were inactive. i.e., were neither
employed nor actively seeking a job. Compared to 2016, the number of unemployed
persons dropped by 18.6 thousand or 4.0%. In the 4th quarter,
30.7% or 434.2 thousand people aged 15–74 were inactive. Compared to the 3rd quarter,
inactive population grew by 1.2 thousand people or 0.3%.
In 2017, 18.1 thousand
people or 4.1% of the inactive population were discouraged to find a job (20.2 thousand
or 4.4% in 2016). In the 4th quarter of the year, this
population accounted for 16.1 thousand people or 3.7%
(19.5 thousand people or 4.5% in the 3rd quarter of 2017).
In 2017, Labour Force Survey
covered 16.5 thousand households, in which 30.4 thousand people aged
15–74 were interviewed. In the 4th quarter of the year, Labour
Force Survey covered 4.1 thousand households, in which 7.5 thousand
people aged 15–74 were interviewed.
More information on employment
statistics is available in the CSB database section Employment and Unemployment – Key Indicators. Results of the Labour Force Survey are published in the CSB database
section Employment and Unemployment (Short term statistical data and Annual statistical data).