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Financial News: Estonia Jobless Rate Falls In Q4

Estonia Jobless Rate Falls In Q4

02/15/2021 - 05:06:00 (RTTNews)

(RTTNews) - Estonia's jobless rate declined in the fourth quarter, after rising sharply in the previous three months, data from Statistics Estonia showed on Monday.

The jobless rate fell to 7.4 percent in the fourth quarter from 7.7 percent in the third quarter. In the second quarter, the rate was 5 percent.

A year ago, the rate was 4.1 percent in the fourth quarter.

In 2020, the unemployment rate climbed to 6.8 percent from 4.4 percent in 2019, largely due to the disruption to economic activity caused by the coronavirus pandemic. The rate was the highest since 2016, when it was at the same level.

The number of unemployed were 47,900 persons, which was 16,600 more than in 2019.

"Compared to 2019, the share of unemployed persons grew the most among clerical support workers, technicians and associate professionals," Katriin Polluaar, analyst at Statistics Estonia, said.

The number of employed persons increased by 16,600 to 47,900 in 2020. The employment rate was 66.7 percent.

The labor force participation rate remained unchanged at 71.6 percent in 2020.

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