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

Regional recipes for success

European conference promotes regional solutions to global challenges. more »

Iceland Express to launch flights from Vilnius Airport

Iceland‘s low-fare airline Iceland Express will launch regular flights by the new-generation „Boeing 737-700“ planes to about 8 different destinations from Vinius International Airport. more »

Economic crisis: women in developing world pay high price

Over 3 million people around the world have lost their jobs due to the financial crisis and, according to the UN, economic recovery is unlikely to reach those that have suffered most - poor women and children. more »

Airport infrastructure in Lithuania: Commission approves State aid to airports of Vilnius, Kaunas and Palanga

The European Commission has today decided not to raise any objections to the public financing of infrastructure developments at three Lithuanian airports – Vilnius, Kaunas and Palanga International Airports. more »

Single Euro Payments Area (SEPA): Commission consultation shows general support for end-date for SEPA migration

The European Commission has published the results of a public consultation launched in June 2009 on whether and how deadlines should be set for the migration of existing national credit transfers and direct debits to the new Single Euro Payments Area (SEPA) payment instruments. more »

Innovative solutions to global challenges

A favourable climate for innovation in the EU can speed up the transition to an eco-efficient economy and increase Europe’s global competitiveness. more »

IMF Signs €15 Billion Borrowing Agreement with Deutsche Bundesbank

The International Monetary Fund (IMF) and the Deutsche Bundesbank have signed an agreement to provide the Fund with up to the equivalent of €15 billion (about US$22 billion). more »

ECB publishes the Euro Money Market Survey 2009

Today the European Central Bank is publishing a report entitled “Euro Money Market Survey 2009”, which illustrates the main developments in the euro money market in the second quarter of 2009, in comparison with the second quarter of 2008. more »

Banks and finance - a year on

New EU laws proposed for closer oversight of financial services industry, sending a strong signal to this week's G20 summit. more »

Commission statement on aid for Opel Europe

The European Commission has repeatedly underlined that the restructuring plan of new Opel Europe must guarantee that the company will be viable in the future. more »