Unemployment's Decline

August 2005
Emerging Europe Monitor: Central Europe & Baltic States;Aug2005, Vol. 12 Issue 8, p11
Country Report
Country Report
The article focuses on the mixed performance of Latvia's labour market despite strong real GDP growth. Latvia's fast-paced economic expansion is finally beginning to whittle down the jobless number. While the registered unemployment rate has been stuck at 8.5% for the past few years, the more meaningful labour force survey measure compiled by Eurostat reveals that unemployment fell from 12.6% in 2002 to 9.8% in 2004. According to Eurostat data, the jobless rate dropped to 9.5% in the first five months of the year, compared to 10.0% in the corresponding period of 2004. Nevertheless, Latvia's unemployment rate is the seventh highest of the 25 European Union member states.


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