2012 11 19

Unemployment to ease next year, says Lithuania's central bank

The Bank of Lithuania forecasts that the country's unemployment rate will reach 13.3 percent this year and will ease to 11.6 percent next year, with the situation in the labour market expected to continue improving, although at a slower pace.

Bedarbis / 123FR nuotr.

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"The employment level is rising at a quite fast rate. Employers are switching to more flexible forms of work. However, this also shows that employers do not rush to commit themselves," Rūta Rodzko, director of the Bank of Lithuania's Economics and Financial Stability Service, said at a news conference on Monday.

She added that the pace of decline in unemployment will slow in the near future.