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Latvia: Unemployment Shrinks Rapidly

Published: March 1, 2013; 14:19 · (Vindobona)

Data of the Central Statistical Bureau show that the number of unemployed persons (aged 15-74) in 2012 has diminished by 11.1 thousand.

Latvia: Unemployment Shrinks Rapidly / Picture: © Vindobona.org

155.5 thousand persons were seeking job. Their share in the active population comprised 14.9% – 1.3 percentage points less as compared to the year before.

The share of unemployed men in the total number of active men in the country was higher than share of unemployed women in the number of active women, constituting 16.0% and 13.9%, respectively.

Registered unemployment rate in the country in 2012 comprised 11.5%, according to the data calculated on the basis of the State Employment Agency information (12.9% in 2011).

In comparison with 2011, also the share of young unemployed persons (aged 15-24) in total number of active young people has reduced slightly (by 2.6 percentage points) – in 2012 the number constituted 28.4%. Survey data show that part of young people, which were seeking job, have found it.

Long-term unemployed persons accounted for slightly more than a half (80.7 thousand or 51.9% persons) of the total number of unemployed. In comparison with the year before, their number has decreased by 10.4 thousand. In current economic situation, the number of unemployed persons having previous work experience is still high. In 2012 there were 133.7 thousand unemployed persons having previous work experience or 86% of the total number of unemployed, while a year before this indicators comprised 144.1 thousand persons and 86.5%, respectively.

Number of employed persons and their share in the total population in 2012 has grown, as compared to the previous year. Totally in the country there were 885.6 thousand employed persons, i.e., 56.3% of the total population aged 15-74 (in 2011 - 861.6 thousand persons and 54.0%, respectively). Only 5.6% of them did not work due to various reasons (vocation, illness, childcare leave, etc.). The number employed persons includes 7 thousand persons, which still having the status of unemployed during the reference week were employed.

The livelihood of the population usually comes from various sources of income, and thus, during the survey, respondents indicated several sources of income. Wages and salaries was the main source of income for the half (50%) of the population in the corresponding age group.

Share of employees receiving minimum monthly wage or less has reduced, whereas slight rise was recorded in the wage groups over LVL 300

In comparison with 2011, the number of economically active population (aged 15-74) in 2012 has increased by 1.3%. Two thirds (66.1%) of the population in this age group were active; this indicator comprised 70.7% among men and 62.2% among women.

Compared to the year before, the number of inactive population (aged 15-74) has dropped by 6% and constitutes 533 thousand persons.

Particular attention in this group should be given to the persons who are potential unemployed, but have been discouraged or do not know where and how to find a job. Results of the survey show that in 2012 in the country there were 31.3 thousand persons who have been discouraged to find a job (5.9% of the total inactive population). In compariso n with 2011, their number has decreased by 7.8 thousand.