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Weak economy hits labor

  • 2014-09-03
  • From wire report
TALLINN - Estonia’s central bank Eesti Pank said in its comments on the second quarter labor market data that the data indicates that the labor market is adjusting to the weak economic environment, reports LETA.Data from Statistics Estonia show that the number of employed fell by 1.2 percent year-on-year in the second quarter of 2014. A low rate of participation in the labor force meant that the unemployment rate fell at the same time, to 6.9 percent, which indicates there is a shortage of labor.The adjustment of companies to the consistently weak economic environment is ev...
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