In April-June, unemployment rate comprised 8.6%. Compared to the previous quarter, rate of unemployment has risen by 1.2%, but during a year – by 2.2%.
In the result of Covid-19 crisis, the number of unemployed increased. In Q2, the number of unemployed persons aged 15-74 comprised 83.5 thousand, up by 22 thousand YoY and by 11.3 thousand QoQ, according to results of the Labor Force Survey conducted by the Central Statistical Bureau.
Since the second half of 2014, Latvian unemployment rate has been the highest among Baltic States, only in the end of 2019 it was slightly lower than in Lithuania. In Q2, Latvian unemployment rate was the same as in Lithuania (8.6%), but higher than in Estonia (7.1%).
In Q2, 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 13.1%. Over a year, it has dropped from 40% to 26.9%. But the number of long-term unemployed persons declined by 1.9 thousand and comprised 22.4 thousand in Q2.
In Q2, youth unemployment rate of young people aged 15-24 constituted 18.2%, up by 3.1% YoY and by 4.7% QoQ. During the year, number of young unemployed persons rose by 2.7 thousand and comprised 11.3 thousand.
The share of youth in the total number of unemployed comprised 13.6%. Over a year, their share fell by 0.4%, but compared to the previous quarter – increased by 2.1%.
In Q2, 36.5% of all young people were active, i.e., employed or actively seeking a job (unemployed), while 63.5% of young people were inactive (mainly studying and not seeking a job).
29.9% or 415.2 thousand people aged 15-74 were inactive, i. e., were neither employed nor actively seeking a job. Compared to the first quarter, the number of unemployed persons dropped by 3.9 thousand or by 0.9%, but over a year – by 18.3 thousand or by 4.2%.
9.8 thousand people or 2.4% of the inactive population were discouraged to find a job. As compared to a year ago, this population accounted for 3.6%, but in the first quarter of 2020 – for 3%.
In Q2, Labor Force Survey questions about economic activity were asked to 6.4 thousand people aged 15-74 living in 3.6 thousand households. (BNN/Business World Magazine)