RIGA — Unemployment in Latvia ceased growing in March and even decreased slightly, according to fresh data, marking what could be the beginning in a much-awaited turnaround on the country’s disastrous jobs market.

The welfare ministry announced Tuesday that unemployment at the end of March was 17.3 percent, unchanged from the previous month.

What’s more, the spring has brought a small hiring spree, with the number of job vacancies amounting to [private_supervisor]1,712, the most it has been in months.

“Along with other positive economic stabilization indicators the labor market situation is also starting to improve as the unemployment rate has finally stopped increasing,” Minister of Welfare Uldis Augulis was quoted by the Baltic News Service as saying.

“It means that all labor market programs and social safety net strategy measures, proposed by the Welfare Ministry so far, have been focused and effective enough to stop the steep growth of unemployment,” Augulis said.

If unemployment has indeed reached its nadir, the news is unlikely to constitute much hope for the 194,000 plus Latvians who are still out of jobs. Still, if the bottom is 17.3 percent, this is far better than the 20 percent that many economists predicted.

The above data apply to local methodology, while European Union statistics show Latvia having 21.7 percent unemployment in February — the highest in the 27-member bloc. In February 2008 the level was 13.2 percent, which meant saw the sharpest increase in job losses in the EU.

According to EU data, Lithuania and Estonia had 15.8 and 15.5 percent unemployment rates, respectively, in December. Spain had the second highest level of joblessness in February, at 19 percent.

The lowest level of joblessness continues to be Riga (12.8 percent in February), while the highest is Latgale (22.6 percent), according to the State Employment Agency. [/private_supervisor] [private_subscription 1 month]1,712, the most it has been in months.

“Along with other positive economic stabilization indicators the labor market situation is also starting to improve as the unemployment rate has finally stopped increasing,” Minister of Welfare Uldis Augulis was quoted by the Baltic News Service as saying.

“It means that all labor market programs and social safety net strategy measures, proposed by the Welfare Ministry so far, have been focused and effective enough to stop the steep growth of unemployment,” Augulis said.

If unemployment has indeed reached its nadir, the news is unlikely to constitute much hope for the 194,000 plus Latvians who are still out of jobs. Still, if the bottom is 17.3 percent, this is far better than the 20 percent that many economists predicted.

The above data apply to local methodology, while European Union statistics show Latvia having 21.7 percent unemployment in February — the highest in the 27-member bloc. In February 2008 the level was 13.2 percent, which meant saw the sharpest increase in job losses in the EU.

According to EU data, Lithuania and Estonia had 15.8 and 15.5 percent unemployment rates, respectively, in December. Spain had the second highest level of joblessness in February, at 19 percent.

The lowest level of joblessness continues to be Riga (12.8 percent in February), while the highest is Latgale (22.6 percent), according to the State Employment Agency. [/private_subscription 1 month] [private_subscription 4 months]1,712, the most it has been in months.

“Along with other positive economic stabilization indicators the labor market situation is also starting to improve as the unemployment rate has finally stopped increasing,” Minister of Welfare Uldis Augulis was quoted by the Baltic News Service as saying.

“It means that all labor market programs and social safety net strategy measures, proposed by the Welfare Ministry so far, have been focused and effective enough to stop the steep growth of unemployment,” Augulis said.

If unemployment has indeed reached its nadir, the news is unlikely to constitute much hope for the 194,000 plus Latvians who are still out of jobs. Still, if the bottom is 17.3 percent, this is far better than the 20 percent that many economists predicted.

The above data apply to local methodology, while European Union statistics show Latvia having 21.7 percent unemployment in February — the highest in the 27-member bloc. In February 2008 the level was 13.2 percent, which meant saw the sharpest increase in job losses in the EU.

According to EU data, Lithuania and Estonia had 15.8 and 15.5 percent unemployment rates, respectively, in December. Spain had the second highest level of joblessness in February, at 19 percent.

The lowest level of joblessness continues to be Riga (12.8 percent in February), while the highest is Latgale (22.6 percent), according to the State Employment Agency. [/private_subscription 4 months] [private_subscription 1 year]1,712, the most it has been in months.

“Along with other positive economic stabilization indicators the labor market situation is also starting to improve as the unemployment rate has finally stopped increasing,” Minister of Welfare Uldis Augulis was quoted by the Baltic News Service as saying.

“It means that all labor market programs and social safety net strategy measures, proposed by the Welfare Ministry so far, have been focused and effective enough to stop the steep growth of unemployment,” Augulis said.

If unemployment has indeed reached its nadir, the news is unlikely to constitute much hope for the 194,000 plus Latvians who are still out of jobs. Still, if the bottom is 17.3 percent, this is far better than the 20 percent that many economists predicted.

The above data apply to local methodology, while European Union statistics show Latvia having 21.7 percent unemployment in February — the highest in the 27-member bloc. In February 2008 the level was 13.2 percent, which meant saw the sharpest increase in job losses in the EU.

According to EU data, Lithuania and Estonia had 15.8 and 15.5 percent unemployment rates, respectively, in December. Spain had the second highest level of joblessness in February, at 19 percent.

The lowest level of joblessness continues to be Riga (12.8 percent in February), while the highest is Latgale (22.6 percent), according to the State Employment Agency. [/private_subscription 1 year]

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