Registered unemployment rate remains unchanged m/m at 9.2% in Lithuania

The registered unemployment rate remained unchanged m/m at 9.2% in February, while on annual basis the rate was 0.1pp higher, according to data provided by Lithuania Employment Service on Wednesday. The labour market has thus stabilizied amid expectations for the typical deterioration observed during the winter season. The labour market is projected to remain stagnant in March and then the jobless rate will start to decline more meaningfully as a result of seasonal hiring in construction, tourism and agriculture. The Employment Service also reported that registered job offers increased by 10% m/m to 23,200 which signals the slow revival of hiring related to the upcoming summer season. All in all, the labour market continues to perform rather resiliently, especially when compared to initial expectations which will further support private consumption and economic growth this year.

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