Youth unemployment in Lithuania has shrunk significantly over the last few years. Specialists say, however, that this is as much to do with emigration as with the growing economy.
Youth unemployment
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According to Eurostat, the European Union's statistical department, unemployment fell through the Euro zone and the EU in January while growing slightly in Lithuania.
High youth unemployment might hamper Lithuania's plans to join the Organization for Economic Cooperation and Development (OECD), says the country's Labour Minister Algimanta Pabedinskienė.
Unemployment increased in Lithuania in December as it fell across the eurozone, according to the latest figures from Eurostat, the EU statistics agency.
Having joined the eurozone this year and successfully advertised its natural and urban wonders, Lithuania has become a new darling of international travel 'listicles'. Its brushed-up capital, ambitious start-ups and emerging foodie hotspots make many visitors wonder if this is really one of the poor...
Lithuania's seasonally adjusted unemployment level stood at 9.4 percent in December 2014, Eurostat, the statistical office of the European Union, said.
Swedbank analysts say that Lithuania's labour market continues improving, even though rapid wage growth does pose some challenges. Looking ahead, slower employment growth and strong wage growth are expected.
17,600 young people emigrated from Lithuania last year, and 8,800 returned, according to figures from Statistics Lithuania.
In the second quarter of this year unemployment declined to 11.2% and was 1.2 percentage points lower than in the previous quarter. Youth unemployment, on the other hand, increased slightly to 21.3%. Long term unemployment declined to 5% and was 0.2 percentage points lower than in the first quarter.
In June 2014, the seasonally-adjusted unemployment rate in Lithuania stood at 10.5 percent, according to Eurostat, the statistical office of the European Union.
Since the beginning of this year, youth unemployment in Lithuania has gradually declined. On 1 January, it stood at 6.2 percent, while on 1 July it went down to to 3.5 percent.
