Unemployment rate dips below 10%

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Latest data released Wednesday by the Central Statistical Bureau (CSB) shows that in the 2nd quarter of 2015 Latvia's unemployment rate dropped into single figures.

At 9.8%, the unemployment rate is 0.9 percentage points lower than the same period in the previous year. 

Compared to the previous quarter unemployment rate declined by 0.4 percentage points. In the 2nd quarter of 2015, 97,100 people aged 15 to 74 years were unemployed, which is 9,100 or 8.6% fewer than a year before.

The data also mean that after several years as an outlier, Latvia's unemployment rate now has a good chance of dipping below the average unemployment rate of the EU as a whole, which stood at 10.2% in the first quarter.

However youth unemployment remained high at in the 2nd quarter at 15.2% (down from 21.1% a year earlier), and the share of unemployed people classed as long-term unemployed grew by 2.8% to 43% of the total number.

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