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Latvia reaches highest employment level in past 20 years

Photo: pixabay.com.
Latvian employment rate has increased by 1.8 percentage points over the year. In Q3 2017, Latvian employment rate was the highest one recorded during the two past decades – 63.6 %. Employment rate exceeding 63 % (constituting 63.1 %) was recorded only in Q2 2008.

In Q3 2017, in Latvia there were 903.0 thousand employed persons aged 15–74, which is 8.0 thousand more than a year ago, according to data from the Labour Force Survey performed by Central Statistical Bureau of Latvia.

Compared to the previous quarter of 2017, in the 3rd quarter employment rate rose by 1.0 percentage points, while the number of employed persons by 11.3 thousand. The most significant increase in the number of employed persons was recorded within the age groups 45–54 and 55–64 (5.8 thousand and 2.8 thousand, respectively).
 

Since the end of Q4 2012, Latvian employment rate has been exceeding the European Union (EU) average indicator (59.8 % in Q2 2017), and in Q3 2017 it was equal to that registered in Lithuania (63.6 %), however lower than that recorded in Estonia (68.3 %).
 

In Q3 2017, the employment rate among young people (aged 15–24) constituted 35.0 %, which is 2.5 percentage points higher than in the corresponding period a year before. The number of employed young people accounted for 62.1 thousand (60.9 thousand in Q3 2016).
 

In Q3 2017, persons employed in the main job worked on average 38.8 hours per week – 0.1 hours fewer than in Q3 2016.
 

The Labour Force Survey data show that, compared to Q3 2016, in Q3 2017 the share of employees receiving less than EUR 450.00 monthly (after taxes) fell to 38.9 % (a drop of 5.1 percentage points), while the proportion of employees receiving minimum monthly wage or less constituted 149.3 thousand or 18.7 % (reduction of 1.4 percentage points over the year).
 

The share of employees receiving EUR 450.01–700.00 monthly rose by 1.9 percentage points (32.8 % in Q3 2017) and that of employees receiving EUR 700.01–1,400.00 monthly increased by 3.1 percentage points (20.8 % in Q3 2017).
 

In its turn, the proportion of employees receiving more than EUR 1,400 monthly grew by 0.2 percentage points (2.7 % in Q3 2017).
 

Wage or salary of 2.9 % of employees was not calculated or paid, while 1.9 % did not indicate the size of earnings thereof.
 

In Q3 2017, the Labour Force Survey covered 4.1 thousand households, in which 7.6 thousand persons aged 15–74 were interviewed.

BNN

15-11-2017
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