Informative Report on Medium and Long-term Labour Market Forecasts

 

Informative Report on Medium and Long-term Labour Market Forecasts
2018

 

In order to implement action 31.1 of the Government Action Plan: Declaration of the Intended Activities of the Cabinet of Ministers Headed by Māris Kučinskis, as well as Paragraph 24 of the Protocol Decision No 48 of 14 July 2009 and Paragraph 11 of the Protocol Decision No 60 of 8 November 2016 of the Cabinet of Ministers, the Ministry of Economics has prepared the Informative report on medium and long-term labour market forecasts.

 

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The Report describes the current situation in the labour market and includes medium-term labour market forecasts up to 2025 and long-term labour market forecasts up to 2035, updated by the Ministry of Economics. These labour market forecasts are based on the economic development and demographic scenarios, which were developed by the Ministry of Economics.

Labour market forecasts drafted by the Ministry of Economics are one of the tools that allow an early anticipation of formation of labour market mismatches in the future. They show possible trends in the labour market development and possible risks if the current education system and education supply structure are retained.

Forecasts are only one of the stages in the labour supply adjustment process. They are the quantitative basis for further discussions among employment, education and structural policy makers, social partners, scientists and other stakeholders, in order to prepare and adapt the expected structural changes in the national economy in a timely manner.

Last update:    25-03-2019