Estonia's unemployment rate declined to 4.4 percent in the fourth quarter of 2018 from 5.3 percent in the same period last year. It was the lowest jobless rate since the second quarter 2008, as the number of unemployed decreased by 6,300 to 30.9 thousand while the number of employed rose by 7,900 to 675.3 thousand. Meantime, the participation rate edged up to 72.3 percent from 72.2 percent in the same period of 2017. Unemployment Rate in Estonia averaged 8.26 percent from 1989 until 2018, reaching an all time high of 19.50 percent in the first quarter of 2010 and a record low of 0.50 percent in the second quarter of 1989.
Unemployment Rate in Estonia is expected to be 5.80 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Estonia to stand at 5.80 in 12 months time. In the long-term, the Estonia Unemployment Rate is projected to trend around 5.60 percent in 2020, according to our econometric models.