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

Gender equality is part of the solution to exit the crisis – new report

Both women and men have been hit by job losses in the downturn, says a new report adopted by the European Commission today. more »

Globalisation fund: Parliament backs aid to Sweden, Austria and the Netherlands

Unemployed car and construction workers in Sweden, Austria, and the Netherlands will get €15.9 million in EU Globalisation Adjustment Fund aid for training, self-employment and professional orientation services under a plan endorsed by Parliament in plenary on Wednesday. more »

Getting back to work

As the economy recovers, EU countries will need to phase out crisis measures. The question is when? more »

Commission approves public service compensation for Polish Post until 2011, subject to conditions

The European Commission has endorsed, under EU state aid rules, a Polish scheme intended to compensate the Polish Post for net losses incurred in discharging its public service obligations between 2006 and 2011. more »

EU and its Member States committed to make life easier for small companies

The European Commission reports good progress in the implementation of the Small Business Act (SBA) in 2009. more »

Commission approves € 230 million to cushion the impact of the economic crisis in 13 African and Caribbean countries

The European Commission approved the first financing decisions in favour of eleven African and two Caribbean countries for a total of € 230 million, including € 215 million under the so-called Vulnerability FLEX mechanism (V-FLEX). more »

Easier credit to help unemployed people start up businesses

Legal measures to make it easier for people who have lost or risk losing their jobs to get credit to start up their own businesses were backed by the European Parliament on Tuesday. more »

“The business sector wants long-term rules”

How can companies and industry help to stop climate change? This is one of the questions on the table when Sweden’s Minister for Enterprise and Energy Maud Olofsson attends the climate change conference in Copenhagen on Monday and participates in a panel discussion organised by Businesseurope. more »

Gas Coordination Group discusses the gas supply outlook and the emergency preparedness in the EU

In a meeting held today in Brussels, the Gas Coordination Group, under the chairmanship of the Commission, has discussed with Russian Gas Company Gazprom the gas supply and demand outlook and investment strategy of the company in both Russia and the EU. more »

Commission approves impaired asset relief measure and restructuring plan of Royal Bank of Scotland

The European Commission has approved under EU state aid rules the impaired asset relief measure and the restructuring plan of Royal Bank of Scotland (RBS). more »