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Unemployment to dip to 9.6%, expects ministry

The Economics Ministry predicted Monday that the unemployment rate in Latvia this year is going to inch down at close to 9.6% of the economically active population.

The ministry said that the labor market would keep improving but at a slower rate. In addition, growing effects from negative demographic trends will begin to be felt.

The unemployment rate in 2014 has likely dropped by about one percentage point from 2013 to 10.9%, the Economics Ministry said, adding that the employment level had grown to reach 59.1% (in the 15-74 year-old age group). The average number of employed persons in 2014 was 884,000.

In coming years the demand for labor will grow most steeply in the sectors focused on domestic demand – commerce and commercial services, the ministry said.

In January 2015 unemployment in Latvia rose 0.5 percentage points month-on-month to 9% of the country's economically active population.

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