High jobless rate

Published: 1 February 2000 y., Tuesday
Lithuania reported a 10% unemployment rate, its highest figure since independence in 1991. Unemployment in Latvia now stands at around 9%, and 5% in Estonia. Before the collapse of the Russian market, unemployment hovered around 6% in Lithuania and Latvia, and around 2% in Estonia. Unemployment in the countryside and in industrial areas is especially severe. In the rural Akmene district, in northern Lithuania, unemployment has hit 20%, compared to a 7% jobless rate in the Lithuanian capital, Vilnius. The pro-West, open-market Baltic states are considered the most economically advanced nations of the former Soviet Union. After implementing tough market reforms in the early _90s, they experienced strong growth until early 1998. But regional farmers and producers were hit hard later that year by the deepening economic crisis in neighboring Russia, which had been one of their main export markets. With falling orders, many industries laid off workers. Analysts say higher growth this year, spurred on partly by the successful reorientation of many exporters to new Western markets, should help bring jobless rates back down. Officials in all three Baltic states forecast that their economies will expand by at least 3-4 percent in 2000.
Šaltinis: Internet
Copying, publishing, announcing any information from the News.lt portal without written permission of News.lt editorial office is prohibited.

Facebook Comments

New comment


Captcha

Associated articles

The most popular articles

Budget negotiations - MEPs want specific budget line for stabilisation mechanism

A specific EU budget line for the new EU stabilisation mechanism should be created as soon as possible, to ensure its credibility, Council, Commission and Parliament negotiators agreed at a three-way meeting on Wednesday. more »

Break on roaming fees for mobile phone customers

New EU rule will help phone-users avoid astronomical bills for web-surfing and downloads abroad. more »

A toolbox for stronger economic governance in Europe

The Communication approved today by the Commission builds on the principles presented on 12 May to reinforce the economic governance in the European Union. more »

Latest report on taxation trends in the EU

Eurostat report just published shows that the crisis has brought some lower taxes. more »

Food prices: new legislation needed to improve price transparency and farmers' returns

New legislation is needed to ensure fair returns to farmers and transparent prices to consumers, by enforcing fair competition throughout the food supply chain, said Agriculture Committee MEPs on Monday. more »

Fisheries: fair competition needed between imports and European producers

Fish imports play a crucial role in supplying the European market, yet fisheries and aquaculture are strategic sectors that do not lend themselves to a purely free-trade approach, believes the EP Fisheries Committee. more »

The President: Dynamic cooperation with other countries of the EU is a priority for Lithuania

I will support every proposal that strengthens cooperation among the European Union's Member States and serves Lithuania's interests," President of the Republic of Lithuania Dalia Grybauskaitė said at the meeting with EU Member States' ambassadors resident in Lithuania. more »

World Lithuanian entrepreneurs are gathering in London

The fourth World Lithuanian Economic Forum “High tech innovation & investment: local to global” will start in London on 22 June. more »

Enhanced information exchange will contribute to the creation of single Baltic-Nordic community, Lithuania's Minister of Foreign Affairs says

Lithuania aims for the five Nordic countries and three Baltic States to become single community of values, which would be linked by a versatile quality of democracy, security and everyday life. more »

Parliament sets up special committee on EU budget reform

MEPs decided on Wednesday to create a special committee to prepare for the EU's next long-term budgetary framework. more »