Lithuania’s labour market barometer stood at 96.6 points in December, or three points lower than in November. The European Labour Market Barometer, for its part, edged downward by 0.1 points month-to-month to 98.9 points. This suggests that the situation in Lithuania’s labour market is worsening.
Unemployment is expected to continue to rise during the coming months in Lithuania and throughout Europe, the Lithuanian Employment Service projected on Monday by citing the European barometer.
“The European Public Employment Services do not foresee a labour market collapse, but unemployment will continue to rise,” according to Enzo Weber, director of forecasting at the German Institute for Employment Research (IAB).
Weber says that the most unfavourable developments in the coming months are projected for Iceland, Lithuania and Austria, where the setting of the barometer ranges between 95 and 96.6 points.
The barometer is a key monthly indicator that is based on a survey of 17 local or regional public employment services. The process has been run jointly by local services and the Institute for Employment Research since June 2018.
Indicators on the barometer range from 90 (a very poor labour market situation) to 110 (a very good situation).
Source: BNS
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