The unemployment rate in Latvia stood at 6.9 percent in the first quarter of 2019, the same as in the previous period and staying at the lowest figure since the second quarter of 2008 period. The number of unemployed decreased by 0.2 thousand from the previous quarter to 66.9 thousand while the number of employed fell by 6.2 thousand to 903.6 thousand. In the first quarter of 2019, Latvia still had the highest jobless rate among the Baltic States (4.7 percent in Estonia and 6.5 percent in Lithuania). A year ago, the unemployment rate was higher at 8.2 percent. Unemployment Rate in Latvia averaged 11.32 percent from 2002 until 2019, reaching an all time high of 21.30 percent in the first quarter of 2010 and a record low of 5.30 percent in the fourth quarter of 2007.
Unemployment Rate in Latvia is expected to be 6.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Unemployment Rate in Latvia to stand at 7.00 in 12 months time. In the long-term, the Latvia Unemployment Rate is projected to trend around 5.50 percent in 2020, according to our econometric models.