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

Financing the fight against climate change

Commission sets out first finance proposals for Copenhagen pact on climate change. more »

US$ 39.5 Million Loan to Support Small-Scale Family Agriculture in Brazil

The World Bank today approved a US$39.5 million loan for the Rio de Janeiro Sustainable Rural Development Project in southeastern Brazil. more »

WB Grants Additional US$7.8 Million to the Peace and Development Project in Colombia

The World Bank Board of Executive Directors approved today an additional US$7.8 million for the Colombia Peace and Development Project. more »

11 September 2009 - Statistics on payments and securities trading, clearing and settlement – data for 2008

In 2008, the total number of non-cash payments, using all types of instruments, increased by 5% to 78 billion in the EU. more »

Interview with Sharon Bowles - Head of the Economic and Monetary Affairs Committee

Current economic indicators seem to show a cautious recovery in some of the biggest European economies, such as Germany and France. more »

Palapa-D communications satellite now in geostationary orbit

Launch Early Operation Phase (LEOP) has been successfully completed and the Palapa-D communications satellite is now in the nominal geostationary orbit (GEO). more »

Šarūnas Nedzinskas elected to AB DnB NORD Bankas Management Board

The Supervisory Council of AB DnB NORD Bankas on 8 September 2009 elected Šarūnas Nedzinskas as a member of the bank‘s Management Board. more »

Europe's milk crisis: Chair of Agriculture Committee De Castro on the causes

In the last few months farmers across Europe have taken their tractors to the streets to protest at what is being termed the biggest milk crisis for decades. more »

eCall road accident alarm system – European mobile phone companies agree to help.

Mobile telecoms companies have pledged to support the EU’s campaign to equip new cars with a device that would automatically call for help in the event of an accident. more »

Mobility programme promotes entrepreneurship and innovation

Nordic and Baltic countries aim to strengthen cooperation of business and industry stakeholders. more »