Unemployment level in Latvia down to 7.7% in Q2 2018

In Q2 2018 Latvian unemployment rate constituted 7.7 %. Compared to the previous quarter, unemployment rate fell by 0.5 percentage points, while over the year it dropped by 1.2 percentage points.

In the 2nd quarter, in Latvia there were 75.4 thousand unemployed persons aged 15–74, which is 11.2 thousand people fewer than a year ago and 4.6 thousand fewer than in the previous quarter, according to results of the Labour Force Survey by the Central Statistical Bureau of Latvia.

Since the 3rd quarter of 2008, Latvian unemployment rate exceeds the European Union (EU) average (except for Q1 2015 when both indicators were equal). In Q1 2018, Latvian unemployment rate (constituting 8.2 %) exceeded the EU average (7.4 %) by 0.8 percentage points. In Q2 2018, Latvia still had the highest unemployment rate in the Baltic States – 7.7 %, compared to 5.1 % in Estonia and 5.9 % in Lithuania.

In Q2 2018, the share of long-term unemployed persons, i.e., those who have been without work for 12 months or longer, in the total number of unemployed persons grew – from 39.4 % in Q2 2017 to 41.3 % in Q2 2018. The number of long-term unemployed persons reduced by 2.9 thousand, falling to 31.1 thousand.

In Q2 2018, youth unemployment rate constituted 11.2 %, which is 5.3 percentage points lower than a year ago and 3.5 percentage points lower than in Q1 2018. During the year, the number of young unemployed persons fell by 5.3 thousand, whereas over the quarter by 2 thousand.

In Q2, 7.5 thousand people or 9.9 % of all unemployed persons were young people aged 15–24. Over the year, their share in the total number of unemployed persons fell by 4.8 percentage points, whereas compared to the 1st quarter by 1.9 percentage points.

In Q2, 38.1 % of all young people were active, i.e., employed or actively seeking a job, while 61.9 % of young people were inactive.

In Q2 2018, 30.3 % or 428 thousand people aged 15–74 were inactive. i.e., were neither employed nor actively seeking a job. Compared to the 1st quarter, inactive population declined by 7.6 thousand people or 1.7 %, whereas compared to Q2 2017 it fell by 19.1 thousand people or 4.3 %.

In the 2nd quarter, 11 thousand people or 2.6 % of the inactive population were discouraged to find a job (compared to 3.7 % in Q2 2017 and 3.1 % in Q1 2018).

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