Unemployment growth continues to decline in Latvia

The number of unemployed increased to almost 10% in June, according to recent data from the Central Statistical Bureau. Relatively good news at the moment is that the growth rate of unemployment is declining.

According to the latest data for June, the unemployment rate in Latvia is 9.8%. More than 95,000 people are out of work. Compared to May, this is an increase of 0.2%.

The Ministry of Economics believes that the current slowdown in unemployment is good news for the economy.

Oleg Baranov

Senior Economic Analyst at the Ministry of Economics

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The data is not surprising. They show that the situation is beginning to stabilize. And we also see that in economic data. All these restrictions are more or less removed. The economy is beginning to revive. But, of course, it is too early to say that we are already in the plus zone. We are still falling, but those rates are falling.

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However, the government’s social partners do not see any reason for optimism yet, as unemployment is high at almost 10%.

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