Unemployment rate at 8.6% in Latvia in second quarter

Results of the Labour Force Survey conducted by the Central Statistical Bureau (CSB) show that in the second quarter of 2020 Latvian unemployment rate comprised 8.6 %, as published August 17

Compared to the previous quarter, rate of unemployment has risen by 1.2 percentage points, but during a year – by 2.2 percentage points.

As a result of COVID-19 crisis, the number of the unemployed increased. In the second quarter of 2020 the number of unemployed persons aged 15–74 comprised 83.5 thousand, which is 22.0 thousand more than a year ago and 11.3 thousand more than in the previous quarter.

Since the second half of 2014, Latvian unemployment rate was the highest among Baltic States, only in the end of 2019 it was slightly lower than in Lithuania. In the second quarter Latvian unemployment rate was the same as in Lithuania (8.6 %), but higher than in Estonia (7.1 %).

Long-term unemployed persons

In the second quarter of 2020, 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 13.1 percentage point. Over a year, it has dropped from 40.0 to 26.9 %. But the number of long-term unemployed persons declined by 1.9 thousand and comprised 22.4 thousand in the second quarter.

Youth unemployment

In the second quarter of 2020, youth unemployment rate of young people aged 15–24 constituted 18.2 %, which is 3.1 percentage point higher indicator than a year ago and 4.7 percentage points higher indicator than that recorded in the previous quarter. During the year, number of young unemployed persons rose by 2.7 thousand and comprised 11.3 thousand.

In the second quarter, share of youth in the total number of unemployed comprised 13.6 %. Over a year, their share fell by 0.4 percentage points, but, as compared to the previous quarter – increased by 2.1 percentage point.

In the second quarter, 36.5 % of all young people were active, i.e., employed or actively seeking a job (unemployed), while 63.5 % of young people were inactive (mainly studying and not seeking a job).

Inactive population

In the second quarter of 2020, 29.9 % or 415.2 thousand people aged 15–74 were inactive, i.e., were neither employed nor actively seeking a job. Compared to the 1st quarter of 2020, the number of unemployed persons dropped by 3.9 thousand or 0.9 %, but over a year – by 18.3 thousand or 4.2 %.

In the second quarter, 9.8 thousand people or 2.4 % of the inactive population were discouraged to find a job. As compared to a year ago, this population accounted for 3.6 %, but in the 1st quarter of 2020 – for 3.0 %.

Labour Force Survey questions about economic activity were asked to 6.4 thousand people aged 15–74 living in 3.6 thousand households.

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Employment
Economy