Latvia's unemployment rate slightly above EU average in Q1

Results of the Labour Force Survey (LFS) published on May 25 by the Central Statistical Bureau of Latvia (CSB) show that in Q1 2023 Latvian unemployment rate constituted 6.4 %. Over the quarter it fell by 0.3 percentage points and over the year by 0.9 percentage points.

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In Q1 2023 there were 59.8 thousand unemployed persons aged 15–74 (incl.), which is 8.2 thousand fewer than a year ago and 3.7 thousand fewer than in the previous quarter.

In Q4 2022 Latvian unemployment rate (6.7 %) was 0.6 percentage points above the EU average (6.1 %). In Q1 2023 it was higher than in Estonia (5.3 %) and lower than Lithuania (7.7 %).

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In Q1 2023 young people (aged 15–24) constituted 14.4 % of all unemployed persons. The share has gone up by 4.2 percentage points over the year and down by 1.9 percentage points over the quarter. Youth unemployment rate accounted for 13.4 %, thus being 1.4 percentage points higher than a year ago and 2.7 percentage points lower than in the previous quarter. The total number of young unemployed persons increased by 1.7 thousand during the year and decreased by 1.7 thousand over the quarter.

In Q1 2023 almost a third (32.0 % or 441.5 thousand people) of the population aged 15–74 was inactive, i.e., was neither in employment, nor actively looking for a job. Compared to the previous quarter inactive population has grown by 3.3 thousand people or 0.8 % while compared to the previous year by 3.4 thousand people or 0.8 %.

Out of the whole inactive population, 3.0 thousand people or 0.7 % were discouraged from finding a job (1.2 % a year ago and 1.6 % in Q4 2022).

In Q1 2023 LFS covered 5.0 thousand households in which 8.6 thousand people aged 15–89 were interviewed, including 4.4 thousand households with 7.4 thousand people aged 15–74.

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