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

European Globalisation Fund set to help workers in clothing industries in Spain

The European Commission approved an application from Spain for assistance from the EU Globalisation Adjustment Fund (EGF). more »

European Commission calls for saving time and money in cross-border legal disputes through mediation

The European Commission today reiterated the potential of existing EU-rules on mediation in cross-border legal disputes, reminding Member States that these measures can only be effective if put in place by Member States at national level. more »

New opportunities for export of animal products to Russia as certificates enter into force

Exports of animals and animal products from the European Union to Russia are expected to receive a boost after five new certificates for exports between the EU and the Russian Federation entered into force on August 15. more »

World Bank President Zoellick Completes Two-Day Visit To Moldova

World Bank Group President Robert B. Zoellick visited Moldova on August 11-12 at the invitation of Prime Minister Vlad Filat. more »

Profit of the first half of 2010 before loan impairment charges of Danske Bank A/S Lithuania branch is 28m LTL

These are the financial results of the banking activities of the Danske Bank Group in Lithuania (Danske Bankas and Danske Lizingas UAB). more »

First European Investment Bank loan to Armenia for Yerevan metro upgrade

The European Investment Bank (EIB) today signed its first loan agreement with Armenia. more »

Commission releases €14.9 million for food security to the Republic of Niger

Given the worsening food crisis in the Sahel, the Commission today agreed to disburse €14.9 million for food security in Niger, the worst affected country in the area. more »

Commission approves the acquisition of joint control of Arnotts by Anglo Irish Bank and RBS

The European Commission has cleared under the EU Merger Regulation the proposed restructuring of Arnotts' debts in return for a transfer of control to Anglo Irish Bank and Royal Bank of Scotland (RBS). more »

European Commission approves €135 million in grants to Morocco for 2010

The European Commission today approved a new financial support package of €135 million for Morocco. more »

The Commission allocates an additional €10 million package in humanitarian aid for Liberia

The European Commission is allocating an extra €10 million in humanitarian aid for Liberia. more »