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Lithuanian Jobless Rate Climbs In Q2

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Friday, the Lithuanian jobless rate rose to 13.6% in the second quarter, the statistical office reported, from 11.9% in the first three months of the year.

The number of unemployed stood at 223,000 in the second quarter, up 29,000 from the first quarter.

The number of unemployed and the jobless rate continued to rise, but at a slower pace, the statistical office noted. Further, the agency said the rise in unemployment was fueled by the ongoing economic downturn and the rapidly falling number of vacancies.

Last week, revised data showed that the Lithuanian economy shrunk 20.2% year-on-year in the second quarter, far worse than the 13.3% contraction in the first quarter.

(Market News Provided by RTTNews)

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