Latvia - Report on the macroeconomic situation - August 31, 2016

Unemployment may drop to 9.4% this year, the Economics Ministry said during the presentation of its latest Macroeconomic Review. The labour market situation continued improving but at a more moderate rate reflecting influence of negative demographic trends. Employment will increase moderately in 2016, by 0.8% or 7,100 employed persons compared to 2015. The employment rate will be slightly above 62%. The steepest growth in the number of employees is expected in the sectors focused on domestic demand - commercial services and trade. As the demand for labour increases, average gross wages and salaries have also been rising gradually. They increased by 3.7% and 4.6% in 2012 and 2013, respectively, by 6.8% in 2014 and by 6.9% in 2015, reaching 818 euro. A rapid increase of wages and salaries was also observed during the 2016 Q1; average gross wages and salaries increased by 5.3%, as compared to the 2015 Q1.

English: http://www.baltic-course.com/eng/analytics …

The report: https://www.em.gov.lv/files/tautsaimniecibas_attistiba … 

For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Willy De Backer wdebacker@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. Since June 2013 readers can consult our archive and search through all articles in our database at www.cbnarchive.euYou may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.

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