Analytics, Employment, EU – Baltic States

Up until last September, unemployment in Latvia was the second highest in the EU, second only to Spain, while in 2007 and the first half of 2008 it was among the lowest in the EU, and lower than the average for the EU as a whole.

The lowest unemployment rates were recorded in the Netherlands (4.2%), Austria (5.3%), Luxembourg (5.9%), Cyprus (6.2%), Slovenia (6.8%), and Malta (7%).

The average seasonally-adjusted unemployment rate in the 27 European Union (EU) member states was 9.5%, the same as in December. The unemployment rate in the eurozone was 9.9%, also unchanged from December.

In comparison, in January of 2009 the unemployment rate in the 27 EU member states was 8%, and 8.5% in the eurozone.

The unemployment rate over the last year has risen in all EU member states, but the greatest rises were in Latvia (from 12.3 to 22.9%), Lithuania (from 6.4 to 14.6%), and Estonia (from 7.6 to 15.5%).

The lowest rises in unemployment over the year were recorded in Germany (from 7.2 to 7.5%), Luxembourg (from 5.4 to 5.9%), and Belgium (from 7.5 to 8%).

In January 2010, the youth unemployment rate (under-25s) was 20.2% in the euro area and 20.9% in the EU27. In January 2009 it was 17.8% and 17.7% respectively. The lowest rate was observed in the Netherlands (8.1%), and the highest rates in Latvia (43.6% in the fourth quarter of 2009) and Spain (39.6%).

In the USA, the unemployment rate was 9.7% in January 2010. In Japan it was 5.1% in December 2009.

According to data from the Latvian State Employment Agency, the registered unemployment rate in Latvia at the end of January stood at 16.6%.