Analytics, Banks, Financial Services, Latvia

International Internet Magazine. Baltic States news & analytics Saturday, 20.04.2024, 01:28

76% of Latvia’s SMEs will try to retain current number of staff – SEB Banka

BC, Riga, 26.02.2019.Print version
Considering the tense situation in the labor market, more than three fourths or 76 percent of Latvia’s small and medium enterprises (SME) this year will try to retain the current number of employees, SEB Banka reported, citing the latest Baltic Business Outlook data.

The bank said that the situation in Lithuania and Estonia is similar, and the share of companies attempting to retain employees is 73% and 78% respectively.


At the same time, 16% of SMEs in Latvia intend to increase, compared to 17% in Estonia and 19% in Lithuania. Just 8% of companies plan to reduce the headcount, compared to 8% in Lithuania and 4% in Estonia.


SEB Banka’s survey suggests that even though interest in import of laborforce has slightly risen, employees still do not see it as the best solution for solving their problems. At present 16% of Latvian companies, 12% of Lithuanian companies and 21 percent of Estonian companies are interested in employing people from foreign countries.


“Economists consider 5 percent the natural registered unemployment level, buti n Riga and the vicinity the unemployment level is nearing 4%. It means that all reserves will soon be exhausted,” said SEB Banka board member Arnis Skapars.






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