Youth unemployment rate decreases in the 1st quarter of 2015
Data of the Central Statistical Bureau (CSB) show thatin the 1st quarter of 2015 unemployment rate (the number of unemployed persons in the total number of economically active population) accounted for 10.2%, which is 1.7 percentage points less than a year ago. As compared to the previous quarter unemployment rate has not changed.
In the 1st quarter of 2015, 100.6 thsd persons aged 15 to 74 years were unemployed, which is 18.1 thsd or 15.2% less than a year ago.
Over the last year unemployment rate has not changed significantly in Latvia, and since the 2nd quarter of 2014 it only slightly differs from the average EU-28 indicator (in the 4th quarter of 2014 it was 9.9%).
Unemployment rate in the Baltic States and the European Union, %
Data source: Eurostat, CSB Labour Force Survey
The number of long-term unemployed persons who have been seeking a job for 12 months or more amounted to 43.7% of the total number of the unemployed. Over the year this indicator has grown by 0.2 percentage points (in the 1st quarter of 2014 - 43.5%). Along with the decreasing number of unemployed persons, also the number of long-term unemployed persons declined from 51.7 thsd in the 1st quarter of 2014 to 44.0 thsd in the 1st quarter of 2015.
In the 1st quarter of 2015 youth unemployment rate decreased to 14.8%, which is 3.4. percentage points less than a year ago (in the 1st quarter of 2014 - 18.2%). 12.2 thsd or 12.1% of the unemployed persons were aged 15 to 24. Compared to the previous quarter, the number of unemployed youth has dropped by 3.2 thsd. Its share in the total number of unemployed persons has decreased by 3.2 percentage points. In the 1st quarter of 2015, 39.9% of all people aged 15 - 24 were economically active, i.e. employed or seeking a job. 60.1% of youth were economically inactive, mostly still studying and not seeking a job.
Economically inactive population
In the 1st quarter of 2015 more than one third of the population (33.5% or 496.3 thsd) aged 15 to 74 were economically inactive, i.e., neither employed, nor actively seeking a job. Compared to the 1st quarter of 2014 the number of economically inactive persons has decreased by 7.0 thsd or 1.4%.
In the 1st quarter of 2015, 23.7 thsd or 4.8% of economically inactive population were the potential unemployed - persons who currently are discouraged to seek a job. In the 1st quarter of 2014 the share of such persons was 5.4%, and in the 4th quarter of 2014 - 5.6%.
Within the framework of the Labour Force Survey 4.1 thsd households were surveyed in the 1st quarter of 2015, interviewing 8.0 thsd persons aged 15 -74.
More information on the Labour Force Survey results and methodology is available in the section Employment and Unemployment.
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