Lithuanian Jobless Rate Falls In August

Lithuania's jobless rate fell to 14.8% in August from 15.3% in July and the number of registered unemployed totaled 319,800 during the month, the labor office said Friday.

Job vacancies rose 10.8% compared to July. The highest number of vacancies were reported in transport, construction and service sectors.

Lithuanian economy grew 1.3% annually in the second quarter, following a 2.8% contraction in the first quarter, while the Lithuanian central bank forecasts 0.5% growth this year and 3.1% next year.

According to the bank, though the economy has reached its turning point, unemployment is expected to decline only slowly. The bank projects unemployment rate at 17.9% this year and at 16.4% next year.

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Published: 2010-09-03 16:16:00 UTC+00 1 year, 5 months, 1 day, 9 hours, 35 min. ago

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