In the 3rd quarter, Latvian unemployment rate constituted 8.4 %
Results of the Labour Force Survey conducted by the Central Statistical Bureau (CSB) show that in the 3rd quarter of 2020 Latvian unemployment rate comprised 8.4 %. Compared to the previous quarter, unemployment rate has dropped by 0.2 percentage points, but during a year – increased by 2.4 percentage points.
In the 3rd quarter of 2020 the number of unemployed persons aged 15–74 comprised 81.4 thousand, which is 22.5 thousand more than a year ago, but 2.1 thousand less than in the previous quarter.
Since the 2nd half of 2014 the highest unemployment rate among Baltic states was registered in Latvia, and only at the end of 2019 it was slightly lower than in Lithuania. In the 3rd quarter unemployment rate in Latvia was lower than in Lithuania (9.3 %), but higher than in Estonia (7.7 %).
Long-term unemployed persons
In the 3rd quarter of 2020, compared to the corresponding period of the previous year, 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 10.4 percentage points. During a year it has dropped from 37.0 to 26.6 %, but the number of long-term unemployed persons has reduced by 0.3 thousand, and in the 3rd quarter comprised 21.5 thousand.
In the 3rd quarter of 2020, youth unemployment rate of young people (15–24 years) constituted 14.8 %, which is 3.5 percentage points higher indicator than a year ago, but 3.4 percentage points lower indicator than that recorded in the previous quarter. During the year, number of young unemployed persons rose by 1.6 thousand and comprised 8.8 thousand.
In the 3rd quarter, 10.8 % of unemployed were young people. Over a year, their share fell by 1.4 percentage points, but, as compared to the previous quarter – by 2.8 percentage points.
In the 3rd quarter, 34.9 % of all young people were active, i.e., employed or actively seeking a job (unemployed), while 65.1 % of young people were inactive (mainly studying and not seeking a job).
In the 3rd quarter of 2020, 29.9 % or 414.9 thousand people aged 15–74 were inactive, i.e., were neither employed nor actively seeking a job. Compared to the 2nd quarter of 2020, the number of unemployed persons dropped by 0.3 thousand or 0.1 %, but over a year – by 6.4 thousand or 1.5 %.
In the 3rd quarter, 10.3 thousand people or 2.5 % of the inactive population were discouraged to find a job. As compared to a year ago, this population accounted for 3.5 %, but in the 2nd quarter – for 2.4 %.
In the 3rd quarter, Labour Force Survey questions about economic activity were asked to 7.2 thousand people aged 15–74 living in 4.1 thousand households.
¹ EU average indicators on 27 Member States.