Unemployment rate 8.5% in third quarter

Results of the Labour Force Survey conducted by the Central Statistical Bureau (CSB) and released November 15 show that in the 3rd quarter of 2017 the Latvian unemployment rate was 8.5 %.

Though the level remains higher than wanted, there was a positive trend recorded. Compared to the previous quarter, the unemployment rate decreased by 0.4 percentage points, whereas, compared to the same period of the year before it decreased by 1 percent.

In the 3rd quarter of 2017, 84.1 thousand people aged 15–74 were unemployed, which is 10.3 thousand fewer than a year ago and 2.5 thousand fewer than in the previous quarter.

Latvia's unemployment rate has been exceeding the European Union (EU) average indicator since the end of the 3rd quarter of 2008 (except for the 1st quarter of 2015 when both rates were equal).

In the 2nd quarter of 2017, Latvian unemployment rate (8.9 %) was 1.3 percentage points above the EU average (7.6 %). In the 3rd quarter of 2017, Latvian unemployment rate still was the highest among the Baltic states (5.2 % in Estonia and 6.6 % in Lithuania).

Looking at things from the other end of the scale, the CSB pointed out that the employment rate has increased by 1.8 percentage points over the year. \

In the 3rd quarter of 2017, Latvian employment rate was the highest one recorded during the two past decades – 63.6 %. Employment rate exceeding 63 % (constituting 63.1 %) was recorded only in the 2nd quarter of 2008.

In the 3rd quarter of 2017, in Latvia there were 903.0 thousand employed persons aged 15–74, which is 8.0 thousand more than a year ago.

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