Unemployment rate declines

14.08.2014

Results of the Labour Force Survey conducted by the Central Statistical Bureau of Latvia show that in the second quarter of 2014 there were 106.2 thousand unemployed persons aged 15-74 in Latvia; of which 17.7 thousand or 16.7% were young people aged 15 – 24.

In the 2nd quarter of 2014, 42.4 thousand persons or 40.2% of the unemployed in the age group of 15 to 74 years were long-term unemployed who have been seeking job for 12 and more months. This share has dropped by 8.6 percentage points, as compared to the second quarter of 2013 and by 3.4 percentage points compared to the previous quarter.

Unemployment rate (the share of unemployed persons in the total active population) in the second quarter accounted for 10.7%, and over the year it has declined by 0.8 percentage points (in the 2nd quarter of 2013 - 11.4%).  As compared to the previous quarter it has declined by 1.2 percentage points (in the 1st quarter of 2014 - 11.9%). The share of young unemployed persons (aged 15-24) in the total number of economically active youth in the second quarter was 21.1%, which is 0.9 percentage points more than a year ago (20.1%) and 2.8 percentage points more than in the previous quarter (18.2%).

The share of unemployed young people is high because only a small amount of young people work and together with the unemployed comprise the total number of economically active youth against which the share of the unemployed is calculated. A large share of youth is still studying and not seeking job thus they are economically inactive. 

Unemployment rate in the Baltic States and European Union, per cent

Data source: Eurostat database, data of the 2nd quarter of 2014 - Labour Force Survey of Latvia, Lithuania and Estonia.

In the second quarter of 2014, there were 502.9 thsd. economically inactive persons aged 15 to 74 which is one third (33.6%) of the Latvian population aged 15 - 74. As compared to the corresponding period of 2013 this share has decreased by 1.1 percentage point (34.7%), but compared to the previous quarter - increased by 0.1 percentage point (33.5%).

Special attention in this group should be paid to the persons who are the potential unemployed, but have been discouraged to search job or do not know where and how to find a job. The results of the survey show that the number of discouraged persons in the second quarter of 2014 accounted for 24.2 thousand persons or 4.8% of the economically inactive population. A year ago the share of such persons was 5.3%, and in the 1st  quarter of 2014 - 5.4%.

Within the framework of the Labour Force Survey in the 2nd quarter of 2014, 4.7 thousand households were surveyed, interviewing 7.8 thousand persons aged 15 – 74.

 

More information on the Labour Force Survey results is available in the section Employment and Unemployment.

The CSB homepage offers the Labour Force Survey methodology.

 

More information:
Zaiga Priede
Employment Statistics Section
Tel. +371 67366886