Estonia's unemployment rate jumped to 7.1 percent in the second quarter of 2020 from 5.1 percent in the corresponding period last year. It was the highest jobless rate since the third quarter of 2016, as the number of unemployed increased by 13.7 thousand to 49.4 thousand while the number of employed dropped by 23.8 thousand to 643.9 thousand, reflecting the impact of the crisis caused by the spread of COVID-19. The labor force participation rate declined to 70.4 percent from 71.7 percent in the same period of 2019 and the employment rate fell to 65.4 percent from 68.1 percent.
Unemployment Rate in Estonia averaged 8.11 percent from 1989 until 2020, reaching an all time high of 19.50 percent in the first quarter of 2010 and a record low of 0.50 percent in the second quarter of 1989. This page provides - Estonia Unemployment Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Estonia Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Statistics Estonia
Unemployment Rate in Estonia is expected to be 6.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Estonia to stand at 7.00 in 12 months time. In the long-term, the Estonia Unemployment Rate is projected to trend around 6.50 percent in 2021 and 5.10 percent in 2022, according to our econometric models.