Latvia Labour Costs  Forecast


Labour Costs in Latvia is expected to be 128.03 Index Points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Labour Costs in Latvia to stand at 123.90 in 12 months time. In the long-term, the Latvia Labour Costs is projected to trend around 111.77 Index Points in 2020, according to our econometric models.


Latvia Labour Costs
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Latvia Labour Last Q4/17 Q1/18 Q2/18 Q3/18 2020
Unemployment Rate 8.9 9 9.3 9 8.8 8.2
Employed Persons 892 896 900 903 905 929
Unemployed Persons 61461 59947 61552 64440 67675 86604
Long Term Unemployment Rate 3.6 3.94 4.12 4.27 4.47 5.54
Youth Unemployment Rate 10.9 13.62 13.17 13.64 14.14 16.58
Labour Costs 129 128 127 125 124 112
Job Vacancies 17261 17359 16717 15780 14590 5409
Wages 691 670 681 680 680 677
Minimum Wages 380 380 381 383 382 410
Population 1.95 1.95 1.93 1.93 1.93 1.91
Retirement Age Women 62.8 62.81 62.85 62.88 62.9 62.85
Retirement Age Men 62.8 62.74 62.82 62.87 62.91 62.91
Employment Change -0.7 -0.16 -0.1 -0.07 -0.06 -0.04
Employment Rate 62.6 62.06 61.67 61.36 60.75 57.14
Full Time Employment 783 794 799 803 805 823
Part Time Employment 66.3 73.52 72.83 73.65 73.7 76.16
Productivity 127 126 115 125 121 124
Labor Force Participation Rate 68.6 68.23 68.2 68.12 68.04 67.44