The unemployment fee in Latvia has elevated (GRAPHIC)

Within the first quarter of 2024, there have been 68,700 unemployed individuals aged 15 to 74 in Latvia, which is 8,900 greater than a 12 months earlier and 4,500 greater than within the earlier quarter.

This 12 months, simply over half, or 36,700, of the unemployed had been out of labor for as much as 5 months within the first quarter, up 2,800 from a 12 months earlier and a couple of,500 greater than within the earlier quarter, the information confirmed. On the similar time, 11,200 had been unemployed for 6-11 months. The variety of these individuals elevated by 2,400 in comparison with the primary quarter of final 12 months, and decreased by 1,100 in comparison with the earlier quarter.

This 12 months there have been 20,500 long-term unemployed within the first quarter, up 3,400 from a 12 months earlier and three,500 greater than the earlier quarter. The share of long-term unemployed within the whole variety of unemployed was 30.0%, which is 1.5 proportion factors greater than a 12 months earlier and three.2 proportion factors greater than within the earlier quarter.

Within the first quarter of 2024, 11.4% of all unemployed individuals had been younger individuals, or residents aged 15 to 24 years. Their share decreased by three proportion factors over the 12 months, and in comparison with the earlier quarter – by 2.1 proportion factors.

The youth unemployment fee was 11.9% within the first quarter, down 1.5 proportion factors from a 12 months earlier and down 1.8 proportion factors from the earlier quarter. Over the 12 months, the variety of unemployed younger individuals decreased by 800, or 9.3%, and in comparison with the earlier quarter – by 900, or 10.3%.

Of all younger individuals, 35.1% had been economically energetic, that’s, they had been employed or actively on the lookout for work (unemployed), and 64.9% of younger individuals had been economically inactive – largely nonetheless learning and never on the lookout for work.

Within the first quarter of 2024, 31.1% or 427,300 residents aged 15 to 74 had been economically inactive, that means they weren’t employed or actively on the lookout for work. In comparison with the earlier quarter, the variety of economically inactive residents decreased by 3,100, or 0.7%, and over the 12 months – by 14,200, or 3.2%.

The information additionally exhibits that within the first quarter of this 12 months, 4,300, or 1%, of economically inactive residents misplaced hope of discovering a job, down from 0.7% within the first quarter of 2023.

Within the first quarter of 2024, 5,200 households took half within the Labor Pressure Financial Exercise Survey, during which 8,700 residents aged 15 to 89 years had been surveyed, together with 4,500 households within the age group from 15 to 74 years, during which 7,500 had been surveyed residents.