Lithuania’s Employment Service announced on Wednesday that the outlook for the country’s labour market deteriorated in September, but remained better than elsewhere in Europe. The agency was citing the European Labour Market Barometer.
Lithuania’s indicator on the barometer fell slightly to 100.4 points in September, the service announced, but this meant that the country outperformed many others.
The European Labour Market Barometer fell significantly in August and edged down 0.1 points in September. The average remained negative at 99.5 points.
“European labour markets are not expecting rapid expansion, though the employment outlook is improving slightly,” said Enzo Weber, research director at the Institute for Employment Research (IAB).
Lithuania’s unemployment forecast fell by 0.2 points to 98.5 in September. The employment component rose by 0.1 points to 100.6.
“This indicates that unemployment is expected to rise,” the Employment Service said. “Employment remains stable, but only modest growth is expected.”
The barometer is a key monthly indicator based on a survey of 17 local or regional public employment services. The survey has been organised by local employment services and the IAB since June 2018.
The barometer ranges from 90 (a very poor labour market situation) to 110 (a very good situation).
Source: BNS
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