Latvia's unemployment rate increased to 8.6 percent in the second quarter of 2020 from 7.4 percent in the previous three-month period. That was the highest jobless rate since the second quarter of 2017, as the number of unemployed rose by 11.3 thousand to 83.5 thousand due to the Covid-19 crisis, while the number of employed people fell by 10.0 thousand to 892.1 thousand.
Unemployment Rate in Latvia averaged 11.02 percent from 2002 until 2020, reaching an all time high of 21.30 percent in the first quarter of 2010 and a record low of 5.30 percent in the fourth quarter of 2007. This page provides the latest reported value for - Latvia Unemployment Rate - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Latvia Unemployment Rate - data, historical chart, forecasts and calendar of releases - was last updated on September of 2020. source: Central Statistical Bureau of Latvia
Unemployment Rate in Latvia is expected to be 9.30 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Latvia to stand at 8.80 in 12 months time. In the long-term, the Latvia Unemployment Rate is projected to trend around 8.70 percent in 2021 and 6.80 percent in 2022, according to our econometric models.