Unemployment rate down again

Results of the Labour Force Survey conducted by the Central Statistical Bureau (CSB) show that in the 2nd quarter of 2017 the Latvian unemployment rate constituted 8.9 %. 

Compared to the previous quarter, the unemployment rate decreased by 0.5 percentage points, whereas, compared to the same period of the year before – by 0.6 percentage points.

In the 2nd quarter of 2017, 86.6 thousand people aged 15–74 were unemployed, which is 7.9 thousand fewer than a year ago and 4.7 thousand fewer than in the previous quarter.

Long-term unemployed persons

In the 2nd quarter of 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 0.7 percentage points – from 40.3 % in the 2ndquarter of 2016 to 39.6 % in the 2nd quarter of 2017.  Over the year, the number of long-term unemployed persons reduced by 4.0 thousand, and in the 2nd quarter of 2017 it constituted 34.0 thousand.

Youth unemployment

In the 2nd quarter of 2017, the youth unemployment rate constituted 16.5 %, which is 2.4 percentage points lower than a year ago and 0.8 percentage points lower than in the 1st quarter of 2017.  Over the year, the number of young unemployed persons reduced by 1.9 thousand, and, compared to the 1st quarter of 2017, it went up by 1.0 thousand.

In the 2nd quarter of 2017, out of the total number of unemployed persons, 12.8 thousand or 14.7 % were young people aged 15–24.  Their share in the total number of unemployed persons fell by 0.9 percentage points, whereas, compared to the 1st quarter of 2017, the indicator increased by 1.8 percentage points.

In the 2nd quarter, 42.9 % of all young people were active, i.e., employed or actively seeking a job (unemployed), while 57.1 % of young people were inactive (mainly studying and not seeking a job).

Inactive population

In the 2nd quarter of 2017, 31.4 % or 447.1 thousand people aged 15–74 were inactive. i.e., were neither employed nor actively seeking a job. Compared to the 1st quarter of 2017, the inactive population declined by 11.1 thousand or 2.4 %.

In the 2nd quarter, 16.3 thousand people or 3.7 % of the inactive population were discouraged to find a job (in the 2nd quarter of 2016 the indicator constituted 4.3 % and in the 1st quarter of 2017 – 4.4 %).

In the 2nd quarter of 2017, the Labour Force Survey covered 4.1 thousand households, in which 7.6 thousand persons aged 15–74 were interviewed.

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