Unemployment fall in all age groups

18 Feb '08

2 min read

At the end of 2007 the decline in unemployment continued — in the 4th quarter the unemployment rate decreased to 4.1%. The annual average unemployment rate was 4.7% last year, which is smallest during the last 15 years.

Unemployment has decreased in all age groups, most among the youth. The unemployment rate of persons aged 15–24, which in 2004 was still over 20% dropped to 10% last year. The rapid decrease in the unemployment rate of non-Estonians also continued — from 9.7% in 2006 to 6.9% in 2007.

Compared to Estonians (3.6%) it was still about two times bigger. In the region of highest unemployment, Northeastern Estonia, unemployment rate decreased from 12.1% to 9%, in the region of smallest unemployment, Northern Estonia — from 4.3% to 3.3%.

In 2007, 655,000 persons aged 15–74 were employed, 32,000 were unemployed and 359,000 were economically inactive. Compared to 2006, the number of employed persons grew by 9,000. Employment increased due to the decline in unemployment and inactivity.

Employment has increased since 2001. The number of employed persons grew most in 2006. If in earlier years the employment growth was 1–2% in a year, then in 2006 the number of employed persons grew rapidly — by 6.4%. In 2007, the employment growth declined to the level of previous years — the number of employed persons grew by 1.4% compared to 2006.

From the point of view of economic activities, the employment growth was most influenced by construction, where the number of employed persons grew by 18,000 persons in 2007 compared to 2006. Employment increased also in financial intermediation, real estate, renting and business activities as well as in other community, social and personal service activities.

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