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Latvian unemployment rate rises to 7.4% in Q1
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    News

    Latvian unemployment rate rises to 7.4% in Q1

    RIGA, May 22 (LETA) - In the first quarter of this year, unemployment in Latvia rose by 0.5 percentage points from the same period a year ago to 7.4 percent, the Central Statistical Bureau informed.

    Compared to the fourth quarter of 2019, the unemployment rate climbed 1.4 percentage points in the first three months of 2020. 

    In the first quarter of 2020, there were 72,200 jobless people aged 15 to 74 in Latvia. Their number rose by 5,300 from the same period a year ago and by 14,300 from the last quarter of 2019. 

    CSB representatives indicated that as a result of the Covid-19 crisis, which struck in the first quarter of 2020, the number of jobless people who have been looking for jobs for less than a month doubled from the previous quarter. The number of people out of work for one to two months increased 1.5 times.

    The CSB also noted that in the first quarter of 2020 unemployment in Latvia was higher than in Estonia (5 percent) and Lithuania (7.2 percent). 

    The share of long-term unemployed persons (those who cannot find work for 12 months or more) in the total number of unemployed persons reduced by 15.1 percentage points. Over the year, the their share dropped from 43.7 to 28.6 percent. The number of long-term unemployed persons declined by 8,700 to 20,600 in the first quarter of this year. 

    In the first quarter of 2020, youth unemployment among 15 to 24 year-olds was 13.5 percent, which is the same as a year ago, but 3.4 percentage points higher than that recorded in the previous quarter. During the year, number of young unemployed persons fell by 400.

    In the first quarter, out of the total number of unemployed 8,300 or 11.5 percent were young people. Over a year, their share in the total number of unemployed fell by 1.6 percentage points, but, as compared to the previous quarter – increased by 0.5 percentage points.

    In the first quarter, 36.1 percent of all young people were economically active, i.e., employed or actively seeking a job (unemployed), while 63.9 percent of young people were inactive (mainly studying and not seeking a job).

    In the first quarter of 2020, 30.1 percent or 419,100 people aged 15–74 were economically inactive, i.e., were neither employed nor actively seeking a job. Compared to the fourth quarter of 2019, the inactive population decreased by 6,000 or 1.4 percent, and over a year – by 13,800 or 3.2 percent.

    In the first quarter, 12,500 people or 3 percent of the inactive population had lost hopes to find a job. As compared to a year ago, this population accounted for 2.7 percent, but in the fourth quarter of 2019 – for 3.1 percent.

    In the first quarter of 2020, Labor Force Survey questions about economic activity were asked to 6,600 people aged 15–74 from 3,800 households.

    • Published: 22.05.2020 13:45
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