Latvia Stability Programme Report
11
10
9
8
7
THE LABOUR MARKET RETURNED TO HIGH EMPLOYMENT RATE,
PRODUCTIVITY GROWTH IS ON THE RISE
The government took swift actions to mitigate the unemployment growth during Covid-19
crisis. Highly flexible labour market showed ability to adjust to economic shocks and swiftly
return to high employment rate
Unemployment: Headline Rate
Participation and Employment Rates
(age 15-64, %)
9
80
75
70
65
5
4
60
2015
2016
2017
2018
2019
2020
2021
2022
2015
2016
2017
2018
2019
2020
2021
2022
Headline unemployment
Participation rate
Employment rate
Source: Eurostat (17.08.2022.)
Real Productivity Growth Per Worker
(2015-2021 average, %)
Source: Central Statistical Bureau of Latvia data (17.08.2022.)
Average Monthly Wage For Full-time Job
80
7
65+
4
2.7
3
2
EU-27: 0,6%
0
-2
1
14
12
8
20 % 6 + NON +
10
4
2
-4
0
Ireland Latvia Estonia Lithuania Czechia Slovenia Slovakia Finland France Belgium Austria
11
Source: Eurostat (29.06.2022.)
(Y-o-y, %)
Q1'19
Q2'19
Q3'19
Q4'19
■Real Net Wages
Q1'20
Q2'20
Q3'20
Q4'20
Q1'21
Q2'21
Q3'21
Q4'21
Q1'22
Q1'16
Q2'16
Q3'16
Q4'16
Q1'17
Q2'17
■Gross Nominal Wages
Source: Central Statistical Bureau of Latvia data (29.06.2022.)
Q3'17
Q4'17
Q1'18
Q2'18
Q3'18
Q4'18View entire presentation