In the third quarter of 2018, the unemployment rate in Latvia was 7.0%, according to the results of the Central Bureau of Statistics Labor Force Survey (CSB). Compared to the previous quarter, the unemployment rate fell by 0.7 percentage points, while during the year it fell by 1.5 percentage points. Experts are examining how these changes will affect businesses and workers in the labor market.
With rapid economic growth, the unemployment rate continued to fall sharply in the third quarter, and the number of employed persons in the economy grew strongly. According to the Ministry of Finance, the most important role of the rapid growth of the economy is the rapid development of the economy, which created a growing demand for workers, and the number of employees in the national economy in the third quarter was 1.9%, or 17.2 thousand more than a year ago, Of the year.
With continued economic growth, demand for workers continues to grow, while labor reserves are gradually decreasing. The labor market gets "hot". "The adjustment of an employee to the job details and the compensation offered is a real challenge for employers, in a situation where the number of unemployed is declining, but the number of job vacancies increases, the number of job candidates decreases, so in wage and wage negotiations, unequivocal cards are in the employee's hands," he says. Agnese Buceniece, senior economist at Swedbank.
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