LATVIA FACING DECREASE IN POPULATION WHICH DECREASED BY 2.2% AT THE END OF DECEMBER 2013 COMPARED TO DECEMBER 2012 BUT UNEMPLOYMENT INCREASING EVERY YEAR AS 521,400 PEOPLE UNEMPLOYED AND MOST ARE YOUNG In the Q4 of 2013 active population of Latvia was comprised by 1014.7 thousand people or 66.1% of country residents aged 15-74; males comprised 71.3%, while females – 61.5%. In comparison with the Q4 of 2012, active population has reduced by 2.2%, but compared to the Q3 of 2013 – by 1.2%. In Q4 employed population of Latvia was comprised by 900.2 thousand people or 58.6% of country residents aged 15-74, which is less by 5.8 thousand than in the Q3. However, slight increase in the number of employed was observed compared to the Q4 of 2012, when there were 892.8 thousand or 57.2% of population employed in this age group. Only 4% of them did not work due to various reasons, e.g., vacation, illness, childcare leave, education or training. The number of employed persons includes 6.1 thousand people, which still having the status of unemployed were employed, According to results of Labour Force Survey by the Central Statistical Bureau of Latvia. Share of females and males employed in the Q4 was identical (50%). Within the framework of the Labour Force Survey also information on wages and salaries was acquired. Over a year share of employees receiving minimum wage or less has reduced, however, compared to the Q4 of 2012, slight increase was observed in wage groups 284.58–426.86 EUR (LVL 200.01–300.00) and 426.87–711.44 EUR (LVL 300.01–500.00). In the Q4, the number of unemployed persons aged 15-74 comprised 114.4 thousand – 30 thousand persons less than a year ago, of which 20.5 thousand youth aged 15 to 24 which comprises almost one fifth of total number of unemployed. Total number of unemployed, compared to the Q3 reduced by 5.3%. It is related to that youngsters after finishing their studies or during summer holidays indicated that they are unemployed and are ready to take up work, but in the Q4 part of them continued their studies. Unemployment rate (share of unemployed persons in the total active population) in the Q4 accounted for 11.3%, and during the year it has dropped by 2.6 percentage points (in Q4 of 2012 – 13.9%). Share of unemployed youth among active youth in the Q4 was 21.7%, which is 0.1 percentage point less than a year ago and less by 5.9 percentage points than in the previous quarter. Share of unemployed youth among total active youth is high, as only small part of youth is working and together with unemployed they form the number of economically active youth, against which share of unemployed is calculated. Majority of youth is still studying and is not looking for job, therefore, they are economically inactive. In the Q4 the number of economically inactive persons aged 15 to 74 comprised 521.4 thousand and, compared to the corresponding period of 2012, this number has dropped by 0.3%. 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. Survey results indicate that, during the reference quarter, discouraged persons accounted for 28.6 thousand or 5.5% of the inactive population. In comparison with the Q4 of 2012, their number has decreased by 3,000.
Posted on: Sun, 09 Mar 2014 02:30:06 +0000