Latvia's Economic and Financial Outlook
0
Wage and Employment Growth Boosts Domestic Demand
Unemployment is slightly below the natural rate; productivity growth is on the rise.
Unemployment: Headline and Natural Rates
Participation and Employment Rates
(age 15-64, %)
20
15
10
5
וווווווד
TTTTTTTT
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Headline unemployment
Natural unemployment
200
70
75
80
65
60
55
2011
2012
2013
2014
2015
2016
2017
2018
2019
Participation rate
Employment rate
Source: Central Statistical Bureau of Latvia data
Average Monthly Wage For Full-time Job
(Y-o-y, %)
Source: Eurostat, Bank of Latvia
Real Productivity Growth Per Worker
(2013-2018 average, %)
10.0
2.5
9.0
8.0
7.0
6.0
09876543
5.0
4.0
3.0
2.0
1.0
0.0
Latvia
A/A3/A-
Czech
AA-/A1/AA-
Estonia
AA-/A1/AA-
France
AA/AA2/AA
Belgium
AA/Aa3/AA-
Austria
AA+/Aa1/AA+
Source: Eurostat
11
Q1'16 Q2'16 Q3'16 Q4'16 Q1'17 Q2'17 Q3'17 Q4'17 Q1'18 Q2'18 Q3'18 Q4'18 Q1'19
■Gross Nominal Wages
Source: Central Statistical Bureau of Latvia data
■Real Net WagesView entire presentation