Latvia's unemployment rate picked up to 8.1 percent in the first quarter of 2021 from 7.9 percent in the previous quarter. Employment fell by 32.3 thousand to 853.2 thousand while unemployed (-0.9 thousand to 74.7 thousand) fell less. In Q1, 39.7 thousand unemployed persons were out of a job for up to 5 months and 14.6 thousand were unemployed for 6-11 months. Also, the number of inactive people rose by 31.2 thousand to 457.4 thousand. A year earlier, the jobless rate was lower at 7.4 percent. source: Central Statistical Bureau of Latvia
Unemployment Rate in Latvia averaged 10.90 percent from 2002 until 2021, 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 June of 2021.
Unemployment Rate in Latvia is expected to be 10.20 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 8.20 in 12 months time. In the long-term, the Latvia Unemployment Rate is projected to trend around 7.40 percent in 2022 and 6.20 percent in 2023, according to our econometric models.