The Baltic states have announced record high unemployment rates this week, but said they expect the figures to improve during 2000.
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.
The most popular articles
In Brussels, Prime Minister Gediminas Kirkilas participated in the meeting of Nordic and Baltic (NB6) Prime Ministers which focused on the pressing topics on the agenda of the European Council: global finance crisis, energy, climate change, EU-Russia relations, and financial situation in Iceland.
more »
Prime Minister Gediminas Kirkilas attended the working dinner with President of the European Commission José Manuel Barroso, Danish, Estonian, Finnish, Latvian, Polish Prime Ministers – Anders Fogh Rasmussen, Andrus Ansip, Matti Vanhanen, Ivars Godmanis, Donald Tusk – and Swedish Minister of Foreign Affairs Carl Bildt.
more »
The European Commission has put forward a revision of EU rules on deposit guarantee schemes that puts into action the commitments made by EU Finance Ministers on 7 October.
more »
The United States began releasing long-awaited details of its $700 billion rescue plan.
more »
Australia's Prime Minister announces plans for the government to guarantee bank deposits for the next three years.
more »
Ethical bank, Triodos, says it is offering customers an alternative way to invest their funds.
more »
Energy security was the dominant theme during the meeting between Lithuanian Prime Minister Gediminas Kirkilas and Latvian Prime Minister Ivars Godmanis.
more »
The draft law would require utilities to separate – or unbundle – the distribution of electricity and gas from production.
more »
A holistic approach to eradicating poverty, which seeks to ensure adequate incomes, quality jobs and better access to social services, is advocated by the EP in an own-initiative report.
more »
Dubai showcases multi-billion dollar development projects at the annual Cityscape exhibition.
more »