Unemployment in Latvia

Latvia Unemployment | Economic News & Forecasts

Latvia - Unemployment

Following the sharpest GDP contraction since the 2009-10 global financial crisis in Q2 as a result of the Covid-19 blow, recent data hints at a recovery that is losing traction. After a slight rebound in July, industrial production slumped again in August as manufacturing output faltered. Moreover, retail sales growth waned again in the same month, which, combined with a still-elevated, despite gradually falling, unemployment rate and deeply entrenched pessimism among consumers in Q3, bodes ill for private consumption. The surge in new virus infections from mid-September onwards may come to further restrain spending heading into Q4. On a positive note, Fitch Ratings affirmed the country’s credit rating at A- and lifted its outlook from negative to stable on 9 October, citing the economy’s relative resilience to the pandemic’s shock and the government’s favorable financing conditions.

Latvia - Unemployment Data

2015   2016   2017   2018   2019  
Unemployment Rate9.9  9.7  8.7  7.4  6.4  

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Latvia Unemployment Chart


Latvia Unemployment
Note: Unemployment in % of active population.
Source: Central Statistical Bureau of Latvia.

Latvia Facts

Value Change Date
Bond Yield0.550.0 %Jun 30
Exchange Rate1.120.65 %Dec 31

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