Latvian unemployment rate 7.3% in first quarter of 2022

Data of the Labor Force Survey (LFS) conducted by the Central Statistical Bureau of Latvia (CSB) show that in the first quarter of 2022 Latvia's unemployment rate constituted 7.3 %. 

Over the quarter, the unemployment rate grew by 0.2 percentage points, while over the year it fell by 0.8 percentage points.

In the 1st quarter of this year, there were 68.0 thousand unemployed persons aged 15–74 (incl.), which is 6.7 thousand fewer than a year ago and 1.5 thousand more than in the previous quarter.

However, Latvia's unemployment rate continues to be above those of neighboring Estonia and Lithuania, data shows.

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In the 1st quarter of 2022, 36.2 thousand unemployed persons were unemployed for up to five months. The number is 2.3 thousand persons fewer than a year ago and 0.8 thousand persons more than in the previous quarter. The number of persons unemployed for 6–11 months accounted for 12.6 thousand; it has dropped by 1.7 thousand, compared to the 1st quarter of the previous year, and grown by 3.2 thousand, compared to the previous quarter.

In the 1st quarter there were 18.8 thousand long-term unemployed persons – decline of 3.1 thousand over the year and of 2.6 thousand over the quarter. The share of long-term unemployed in the total number of unemployed persons constituted 27.8 %, which is 4.5 percentage points fewer than in the previous quarter. Compared the corresponding period a year before, the share has reduced by 1.5 percentage points.

Unemployed persons by duration of unemployment (per cent)

 

Q1 2021

Q2 2021

Q3 2021

Q4 2021

Q1 2022

Less than 5 months

51.6

51.6

49.9

53.5

53.6

6–11 months

19.2

21.6

16.7

14.2

18.6

12 months or longer

29.3

26.8

33.4

32.3

27.8

CSB estimate, the totals may not constitute 100 % as the numbers are calculated from unrounded figures.

 

In the 1st quarter of 2022, young people (aged 15–24) constituted 10.2 % of all unemployed persons. The share has dropped by 1.2 percentage points over the year and risen by 0.9 percentage points over the quarter. The youth unemployment rate accounted for 12.0 %, which is 4.3 percentage points lower than a year ago and 0.7 percentage points higher than in the previous quarter. The number of young unemployed persons has reduced by 1.6 thousand during the year and gone up by 0.7 thousand, compared to the previous quarter.

Almost one third (31.9 % or 438.1 thousand people) of the population aged 15–74 were inactive, i.e., was not in employment and not actively looking for job. Compared to the previous quarter, inactive population has declined by 8.8 thousand people or 2.0 %, while compared to the previous year by 19.3 thousand people or 4.2 %.

Out of the total inactive population, 5.4 thousand people or 1.2 % were discouraged from finding a job. There were 1.5 % such persons a year ago and 1.2 % discouraged unemployed in the 4th quarter of 2021.

In the 1st quarter of 2022, Labour Force Survey covered 4.4 thousand households in which 7.7 thousand people aged 15–89 were interviewed, including 4.0 thousand households with 6.9 thousand people aged 15–74.

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