Decline in Job Openings Year-over-Year in Latvia
In Q3 2024, Latvia saw a total of 22,900 job vacancies, with the private sector accounting for 12,200 and the public sector for 10,700. Compared to Q3 2023, the number of vacant jobs in Latvia and Estonia decreased, while in Lithuania it increased.
Out of all jobs available in Latvia, 2.5% were vacant. This figure was higher in the public sector at 3.6%, compared to 2.0% in the private sector. The private sector saw a decrease of 2.9 thousand jobs, or 0.5%, while the public sector experienced a slight increase of 0.5 thousand jobs, or 0.2%.
Regionally, Zemgale and Vidzeme had the highest proportions of job vacancies, with 1.3% and 1.2% respectively. Riga, however, had the highest absolute number of vacancies at 16,700, representing 3.4% of all jobs in the region. Unfortunately, there is no specific data available about which region in Latvia had the highest number of job vacancies in Q3 2024.
Among the Baltic states, Lithuania had the second highest proportion of job vacancies, followed by Latvia and then Estonia. Lithuania saw a 6.0% increase in job vacancies compared to Q3 2023, while Latvia and Estonia experienced decreases of 10.3% and 17.7% respectively.
In terms of industry, the largest share of job vacancies was recorded among technicians and associate professionals (4.2%), elementary occupations (2.9%), and craft and related trades workers (2.8%). Administrative and support service activities and information and communication also had significant proportions of job vacancies, at 3.2% and 3.0% respectively.
Interestingly, in Q3 2024, the largest share of vacant jobs in Latvia was found in public administration (8.0%). The smallest shares were recorded in Kurzeme and Latgale, with 1.1% or 1.0 thousand and 1.1% or 0.7 thousand vacant jobs respectively.
On a broader scale, Lithuania had 2.1% of jobs vacant, and Estonia had 1.6%. These figures highlight the relative stability of the labour market in Estonia compared to Latvia and Lithuania.
It's worth noting that compared to Q3 2023, the average number of occupied posts in the country went down by 2.4 thousand or 0.3%. This suggests a slight contraction in the overall employment market in Latvia.
In conclusion, while the job market in Latvia has shown some signs of improvement compared to Q3 2023, with a decrease in job vacancies, it still faces challenges, particularly in certain industries and regions. The data also indicates a more challenging labour market in Latvia compared to Estonia and a significantly more challenging one compared to Estonia and Lithuania.
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