Latvia Jobless Rate Decreases in Q3

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The unemployment rate in Latvia decreased to 6.9% in the second quarter of 2022 from 7.2% in the corresponding period of the previous year, data from the Riga-based Central Statistical Bureau (CSB) showed on Wednesday.

In the previous quarter, however, the jobless rate was lower at 6.6%.

In Q3, there were 66.400 unemployed persons aged 15–74, which is 1.500 fewer than a year ago and 3.600 more than in the previous quarter.

Meanwhile, 30.6% or 426.800 people of the population were inactive, a decline of 8.800 people or 2% when compared to the previous quarter and a decrease of 8.400 people or 1.9% when compared to the previous year.

Youth unemployment rate comprised 17.7%, which is 2.8 percentage points higher than a year ago and 2.9 percentage points higher than in the previous quarter.

The total number of young unemployed persons increased by 3.400 during the year and by 2.800 over the quarter.

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