Employment of 50–74 year olds the highest in 10 years
According to Statistics Estonia, the employment of 50–74 year olds keeps growing. The number of employed people of that age group is the highest in 10 years.
According to Statistics Estonia, in the 2nd quarter of 2019, the unemployment rate was 5.1%, the labour force participation rate 71.7% and the employment rate 68.1%. According to estimates, 667,700 persons were employed and 35,700 were unemployed. The labour market indicators did not change very much compared to the same quarter of 2018.
The number of 50–74-year-old employed people (232,500) has continued to increase: by 9,600 compared to last year. In the second quarter of 2019, the employment rate of 50–74-year-old population was 59.2% and the unemployment rate 4.7%. The number of unemployed persons decreased by 2,100 compared to the same quarter of 2018. 127,700 of the employed were women and 104,800 men. Compared to the previous year, the number of employed women has increased by 3,400 and employed men by 6,200.
The employment rate for persons aged 25-49 was 83.3% and their unemployment rate was 4%. Compared to the last year, these indicators have not changed very much. The employment rate of 15–24-year-old persons was 39.5% and the unemployment rate 14.1%. The high unemployment rate of young people can be explained by the summer season when young people start looking for work and are available to start work within two weeks.
In the 2nd quarter of 2019, the number of full-time workers was 584,500 and that of part-time workers 83,200. Compared to the same quarter last year, these indicators haven’t changed significantly. The number of underemployed persons (a person is underemployed if he/she does not work full-time, would like to work more and is available for additional work within two weeks) has decreased slightly and was 6,500.
The number of inactive persons was 277,600 in the 2nd quarter of 2019, i.e. slightly more than last year. The main reasons for being inactive were retirement (89,000), studies (65,000) and illness or disability (61,400). It is noteworthy that among inactive persons, the number of discouraged persons (lost hope to find work) is the lowest in this century (2,900).
The unemployment rate is the share of the unemployed in the labour force (the sum of employed and unemployed persons). The employment rate is the share of the employed in the working-age population (aged 15–74). The labour force participation rate shows the share of the labour force in the population aged 15–74. The estimates are based on the data of the Labour Force Survey.
Statistics Estonia has been conducting the Labour Force Survey since 1995 and every quarter, 5,000 persons participate in the survey. The Labour Force Survey is carried out by statistical organisations in all the European Union Member States on the basis of a harmonised methodology. In Estonia, the main representative of public interest is the Ministry of Social Affairs, commissioned by whom Statistics Estonia collects and analyses the data necessary for conducting the statistical activity.