Third quarter unemployment rate was 8.4% in Latvia

Take note – story published 3 years ago

Results of the Labour Force Survey conducted by the Central Statistical Bureau (CSB) show that in the third quarter of 2020 Latvia's unemployment rate stood at 8.4 %. 

Compared to the previous quarter, unemployment rate actually fell  by 0.2 percentage points, but during a year it increased by 2.4 percentage points.

In the third quarter of 2020 the number of unemployed persons aged 15–74 comprised 81,400, which is 22,500 more than a year ago, but 2,100 fewer than in the previous quarter.

In the third quarter the unemployment rate in Latvia was lower than in Lithuania (9.3 %), but higher than in Estonia (7.7 %).

Long-term unemployed persons

In the 3rd quarter of 2020, compared to the corresponding period of the previous year, the number of long-term unemployed persons (those who cannot find work for 12 months or more) in the total number of unemployed persons reduced by 10.4 percentage points. During a year it has dropped from 37.0 to 26.6 %, but the number of long-term unemployed persons has reduced by 0.3 thousand, and in the 3rd quarter comprised 21.5 thousand.

Youth unemployment

In the 3rd quarter of 2020, youth unemployment rate of young people (15–24 years) constituted 14.8 %, which is 3.5 percentage points higher indicator than a year ago, but 3.4 percentage points lower indicator than that recorded in the previous quarter. During the year, number of young unemployed persons rose by 1.6 thousand and comprised 8.8 thousand.

In the 3rd quarter, 10.8 % of unemployed were young people. Over a year, their share fell by 1.4 percentage points, but, as compared to the previous quarter – by 2.8 percentage points.

In the 3rd quarter, 34.9 % of all young people were active, i.e., employed or actively seeking a job (unemployed), while 65.1 % of young people were inactive (mainly studying and not seeking a job).

Inactive population

In the 3rd quarter of 2020, 29.9 % or 414.9 thousand people aged 15–74 were inactive, i.e., were neither employed nor actively seeking a job. Compared to the 2nd quarter of 2020, the number of unemployed persons dropped by 0.3 thousand or 0.1 %, but over a year – by 6.4 thousand or 1.5 %.

In the 3rd quarter, 10.3 thousand people or 2.5 % of the inactive population were discouraged to find a job. As compared to a year ago, this population accounted for 3.5 %, but in the 2nd quarter – for 2.4 %.

In the 3rd quarter, Labour Force Survey questions about economic activity were asked to 7.2 thousand people aged 15–74 living in 4.1 thousand households.

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