RIGA — The number of unemployed in Latvia reached 17.1 percent of the working-age population in February, according to preliminary statistics, or over 191,000 people.
At the end of January the rate was 16.6 percent.
Baiba Paševiča, director of the [private_supervisor]State Employment Agency, said that the highest rate of joblessness in urban areas was recorded in Rezekne, at 24.5 percent, while the lowest was in Riga at 12.7 percent.
The data are compiled according to a particular methodology, which contrasts with that used by Eurostat, the EU’s statistics agency. According to Eurostat’s latest report, unemployment in Latvia was 22.8 percent in January (up from 22.4 percent the previous month).
Also Latvia Statistics, the government’s main statistics agency, announced Monday that, according to its study, unemployment in the fourth quarter of last year was 19.7 percent — or 229,400 people. By contrast, the total number of jobless in the fourth quarter of 2008 was 118,700.
Thus statistics vary, though there is no argument that Latvia has seen the sharpest increase in job losses in the EU and now has the highest level of unemployed in the 27-member bloc.
Also, analysts say the number of jobless will continue to rise over the next few months, although at a slower rate than in 2009.
“This will be some kind of stabilization year for the economy,” Dainis Gaspuitis, an economist at SEB, told Baltic Reports. “If current trends continue, there will be some small tiny improvements at the end of this year only and probably at the beginning of next year. Wages will be cut.”
Gaspuitis said the rising unemployment will cause increased tensions in society and creates a problem for Latvia when the economy eventually does improve, since it will be unclear how many people left the country.
Also, 2010 could prove to be tremendously challenging given that, with the government only paying unemployment benefits for six months, many people who began receiving payments last year will lose that income this year.
Approximatly -3 percent gross domestic product, it’s our current forecast,” Gaspuitis said. “Some analysts are already more positive but I don’t see it as unemployment is so high.”
— Baltic Reports editor Nathan Greenhalgh contributed to this article. [/private_supervisor] [private_subscription 1 month]State Employment Agency, said that the highest rate of joblessness in urban areas was recorded in Rezekne, at 24.5 percent, while the lowest was in Riga at 12.7 percent.
The data are compiled according to a particular methodology, which contrasts with that used by Eurostat, the EU’s statistics agency. According to Eurostat’s latest report, unemployment in Latvia was 22.8 percent in January (up from 22.4 percent the previous month).
Also Latvia Statistics, the government’s main statistics agency, announced Monday that, according to its study, unemployment in the fourth quarter of last year was 19.7 percent — or 229,400 people. By contrast, the total number of jobless in the fourth quarter of 2008 was 118,700.
Thus statistics vary, though there is no argument that Latvia has seen the sharpest increase in job losses in the EU and now has the highest level of unemployed in the 27-member bloc.
Also, analysts say the number of jobless will continue to rise over the next few months, although at a slower rate than in 2009.
“This will be some kind of stabilization year for the economy,” Dainis Gaspuitis, an economist at SEB, told Baltic Reports. “If current trends continue, there will be some small tiny improvements at the end of this year only and probably at the beginning of next year. Wages will be cut.”
Gaspuitis said the rising unemployment will cause increased tensions in society and creates a problem for Latvia when the economy eventually does improve, since it will be unclear how many people left the country.
Also, 2010 could prove to be tremendously challenging given that, with the government only paying unemployment benefits for six months, many people who began receiving payments last year will lose that income this year.
Approximatly -3 percent gross domestic product, it’s our current forecast,” Gaspuitis said. “Some analysts are already more positive but I don’t see it as unemployment is so high.”
— Baltic Reports editor Nathan Greenhalgh contributed to this article. [/private_subscription 1 month] [private_subscription 4 months]State Employment Agency, said that the highest rate of joblessness in urban areas was recorded in Rezekne, at 24.5 percent, while the lowest was in Riga at 12.7 percent.
The data are compiled according to a particular methodology, which contrasts with that used by Eurostat, the EU’s statistics agency. According to Eurostat’s latest report, unemployment in Latvia was 22.8 percent in January (up from 22.4 percent the previous month).
Also Latvia Statistics, the government’s main statistics agency, announced Monday that, according to its study, unemployment in the fourth quarter of last year was 19.7 percent — or 229,400 people. By contrast, the total number of jobless in the fourth quarter of 2008 was 118,700.
Thus statistics vary, though there is no argument that Latvia has seen the sharpest increase in job losses in the EU and now has the highest level of unemployed in the 27-member bloc.
Also, analysts say the number of jobless will continue to rise over the next few months, although at a slower rate than in 2009.
“This will be some kind of stabilization year for the economy,” Dainis Gaspuitis, an economist at SEB, told Baltic Reports. “If current trends continue, there will be some small tiny improvements at the end of this year only and probably at the beginning of next year. Wages will be cut.”
Gaspuitis said the rising unemployment will cause increased tensions in society and creates a problem for Latvia when the economy eventually does improve, since it will be unclear how many people left the country.
Also, 2010 could prove to be tremendously challenging given that, with the government only paying unemployment benefits for six months, many people who began receiving payments last year will lose that income this year.
Approximatly -3 percent gross domestic product, it’s our current forecast,” Gaspuitis said. “Some analysts are already more positive but I don’t see it as unemployment is so high.”
— Baltic Reports editor Nathan Greenhalgh contributed to this article. [/private_subscription 4 months] [private_subscription 1 year] State Employment Agency, said that the highest rate of joblessness in urban areas was recorded in Rezekne, at 24.5 percent, while the lowest was in Riga at 12.7 percent.
The data are compiled according to a particular methodology, which contrasts with that used by Eurostat, the EU’s statistics agency. According to Eurostat’s latest report, unemployment in Latvia was 22.8 percent in January (up from 22.4 percent the previous month).
Also Latvia Statistics, the government’s main statistics agency, announced Monday that, according to its study, unemployment in the fourth quarter of last year was 19.7 percent — or 229,400 people. By contrast, the total number of jobless in the fourth quarter of 2008 was 118,700.
Thus statistics vary, though there is no argument that Latvia has seen the sharpest increase in job losses in the EU and now has the highest level of unemployed in the 27-member bloc.
Also, analysts say the number of jobless will continue to rise over the next few months, although at a slower rate than in 2009.
“This will be some kind of stabilization year for the economy,” Dainis Gaspuitis, an economist at SEB, told Baltic Reports. “If current trends continue, there will be some small tiny improvements at the end of this year only and probably at the beginning of next year. Wages will be cut.”
Gaspuitis said the rising unemployment will cause increased tensions in society and creates a problem for Latvia when the economy eventually does improve, since it will be unclear how many people left the country.
Also, 2010 could prove to be tremendously challenging given that, with the government only paying unemployment benefits for six months, many people who began receiving payments last year will lose that income this year.
Approximatly -3 percent gross domestic product, it’s our current forecast,” Gaspuitis said. “Some analysts are already more positive but I don’t see it as unemployment is so high.”
— Baltic Reports editor Nathan Greenhalgh contributed to this article. [/private_subscription 1 year]
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