Unemployment Down for Second Straight Quarter
The office of the Unemployment Insurance Fund
( Photo: Postimees/Scanpix )
Unemployment decreased for the second successive quarter, this time falling from 18.6 to 15.5 percent, according to Statistics Estonia.
A year ago, the quarterly unemployment rate was 14.6 percent. The number of unemployed people rose to a record high of 137,000 in the first quarter of 2010, decreased by 9,000 in the second quarter and by 22,000 in the third quarter. The total number of employed people was 578,000.
In the third quarter, the unemployment rate was 16.1 percent for men and 14.9 percent for women. By age groups, remarkable changes have taken place on the labor market during the last two quarters. Unemployment decreased rapidly among the young and middle-aged people, but grew for elderly people, who have so far had the lowest rate. The situation improved for young people in the labor market.
The problem of long-term unemployment, which has continuously aggravated during year, did not ease in the third quarter. Instead, short-term unemployment decreased. The estimated number of actual unemployed people compared to the registered unemployed decreased by nearly the same rate.
Employment growth was influenced mainly by a revival in the construction and manufacturing sectors, which gained 14,000 and 12,000 new workers, respectively.