Unemployment down to 7.9% in 2016
rate increased marginally in the fourth quarter of last year - to 7.6%, but was
1.2 percentage points lower than a year ago. Meanwhile, the unemployment rate for
the whole last year averaged at 7.9%. The activity rate of 15-74 year-olds declined
somewhat and the annual growth in the labour force decelerated at the end of last year.
Annual employment growth also slowed marginally to 1.5% in the fourth quarter of last
Outlook: employment growth will subside
We expect employment to
start shrinking this year. There will be plenty of job vacancies, but as the
number of unemployed shrinks and the structural unemployment remains high,
there will not be enough people to fill them. This will slow the decline in
unemployment, but it will still fall to 7.4% in 2017 and to 7.2% in
2018 due to shrinking labour force.
more information about this report, please contact Mrs. Laura Galdikienė, +370 5 258 2275, Laura.Galdikiene@swedbank.lt
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