Unemployment rate decreases in 2014

19.02.2015

Data of the Central Statistical Bureau (CSB) show that in 2014 unemployment rate (the number of unemployed persons in the total number of economically active population) accounted for 10.8%, which is 1.1 percentage point less than in 2013. 107.6 thsd persons aged 15 to 74 years were unemployed, which is 12.8 thsd or 10.6% less than in 2013. Unemployment rate for women was 9.8%, and unemployment rate for men - 11.8%.

Over the last three quarters unemployment rate has not changed significantly in Latvia, and since the 2nd quarter of 2013 it only slightly differs from the average EU-28 indicator. Unemployment rate in Latvia in the 4th quarter of 2014 was 10.2%, and this indicator is slightly higher than in Lithuania (10.1%), but it significantly lags behind the situation in Estonia (6.3%).

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

Data source: Eurostat database, for data on the 4th quarter of 2014 - Labour Force Survey in Latvia, Lithuania and Estonia.

The number of the long-term unemployed who have been seeking a job for 12 or more months amounted to 43.0% (in 2013 - 48.4%). Along with the decreasing number of the unemployed, also the number of long-term unemployed persons declined from 58.2 thsd in 2013 to 46.1 thsd in 2014.

More than one fourth (28.3% or 13.0 thsd persons) of the long-term unemployed persons were aged 45 to 54. Despite the fact that the number of the long-term unemployed in this age group decreased by 3.0 thsd, the share of the persons of this age in the total number of long-term unemployed persons has even slightly grown (by 0.8 percentage points).

In 2014, 16.9 thsd of the unemployed were young people aged 15 to 24. Their share in the total number of economically active youth declined to 19.6%, which is 3.6 percentage points less than in 2013. Compared to 2013 the number, as well as the share of unemployed young people aged 15 to 24 in the total number of unemployed persons decreased by 4.6 thsd or 2.2 percentage points, respectively. In 2014, 40.4% of people aged 15 - 24 were economically active, i.e. employed or seeking a job. The remaining part (59.6%) were economically inactive, mostly still studying and not seeking a job.

Since 2013 youth unemployment rate in Latvia and Lithuania has been below the average EU-28 level (in Estonia this indicator has been below this level already since 2012). 

Youth unemployment rate in the Baltic States and in the European Union, in per cent 

Data source: Eurostat database, for 2014 data - Labour Force Survey in Latvia, Lithuania and Estonia.

In 2014 more than one third of the population (33.7% or 503.5 thsd) aged 15 to 74 were economically inactive, i.e., neither employed nor actively seeking a job. Compared to 2013 the share of economically inactive persons decreased by 18.3 thsd or 3.5%. 26.6 thsd or 5.3% of the economically inactive population were discouraged to seek a job; however, it is less than in the previous year, when this share was 30.8 thsd or 5.9%, respectively.

Within the framework of the Labour Force Survey 18.8 thsd households were surveyed in 2014, interviewing 31.4 thsd persons aged 15 -74. In the 4th quarter of 2014 the survey was carried out in 4.8 thsd households, interviewing 7.9 thsd persons aged 15 -74.

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

 

More information:
Employment Statistics Section
Inga Vanaga
Tel. +371 67366627