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Lithuania Reports Largest Decline in Unemployment Rate in EU 

April 25, 2012, Invest Lithuania
In 2011, Lithuania recorded the largest annual drop in the unemployment rate among the 27 Members States of the European Union.

According to the latest data published by the EU statistical office Eurostat on 23 April, the unemployment rate in Lithuania dropped by 3.2%, from 17.5% in the fourth quarter of 2010 to reach 14.3% in fourth quarter of 2011.

“Falling unemployment is a key indicator of Lithuania’s success in combating the effects of the economic recession affecting the Eurozone”, Invest Lithuania’s General Manager Milda Dargužaitė has noted.

Unemployment fell  throughout the Baltic states in 2011. After Lithuania, Latvia recorded the second largest drop of unemployment in the EU (2.4% to reach 14.6%), and Estonia ranked third (2.2% to reach 11.7%).

Meanwhile, the largest annual increase in the unemployment rate was recorded in embattled Greece (up by 6.7% to reach 21%), followed by Spain and Cyprus (up by 3% to reach 23.6% and 9.7%, respectively).

According to the Eurostat data, the unemployment rate in the euro zone in February was 10.8% and 10.2% in the EU as a whole. The number of unemployed stood at 17.134 million in the euro zone, and at 24.55 million in the EU as a whole.

The Baltic states and some other EU Member States publish their unemployment rates on a quarterly basis.