Flash comment: Lithuania - November 18, 2011
Unemployment continued to decline rapidly in 3Q
- In line with our forecast, in the third quarter of this year unemployment rate declined by 0.8 percentage points and was at 14.8%.
- The youth (aged 15-24) unemployment level dropped to 31.7% - the lowest level in two years, but still among the highest in the EU. However, only one in ten of aged 15-24 are actually unemployed, since big part of the youth are studying and are inactive in a job market. Only less than 30% of youth in Lithuania are active in a job market.
- We forecast that in the final quarter of this year unemployment will decline only by 0.3 percentage points and will be at 14.5% at the end of this year.